Electric Daisy Carnival brings in $26.1 million
By Bob Okon email@example.com October 24, 2013 6:06PM
Fans make it to the front row for Style of Eye at the Electric Daisy Carnival on May 24, 2013, in Joliet. | Stacia Timonere~For Sun-Times Media
Updated: November 26, 2013 6:41AM
The controversial Electric Daisy Carnival in Joliet brought $26.1 million to the region this year, according to the company that runs the event.
Insomniac on Thursday announced that an economic impact study showed the event that was staged at Chicagoland Speedway over the Memorial Day weekend also generated $1.6 million in state and local tax revenue.
The electric dance music event was controversial because of noise that disturbed residents in neighboring towns miles away as Electric Daisy Carnival ran until 4 a.m. each night.
Joliet has yet to make a decision on whether to bring back the event next year.
But City Manager Thomas Thanas said the report “shows a good, strong impact on the economy, which events like this are designed to do.”
Thanas said he just saw the economic impact report Thursday, and the city has not determined how much of the money would have gone to Joliet businesses and taxes.
But he noted that about 25 percent of sales taxes in Joliet go to the city and that the city has a 7 percent hotel tax.
“A fairly good portion of the tax revenue came to the city of Joliet,” Thanas said.
Thanas was waiting for the economic impact report before going to the city council for a decision on whether to bring back Electric Daisy Carnival in 2014. But he said the city still must reach an agreement with Insomniac and Chicagoland Speedway on noise control and the hours for the event if it comes back.
Insomniac said the economic impact report was developed by Beacon Economics.
According to the report:
Visitors from outside of the Chicago area spent $10.7 million, while locals spent $4.3 million;
Insomniac spending accounted for $11.1 million;
Forty-eight percent of those attending the event were from outside the Chicago area;
Spending included $5.4 million for food and beverage; $1.4 million for accommodations; $1.3 million for transportation; $1.1 million for retail; and
$1 million for additional entertainment.
The three-day event, held for the first time in the Chicago market, attracted 65,000 people. According to the report, 72 percent said they would come back next year.