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Economic Impact Per $100,000 of Direct Spending by AUDIENCES <br />The economic impact of event -related spending by arts audiences can also be derived for an individual <br />organization or groups of organizations in Indian River County. <br />The first step is to determine the total estimated event -related spending by attendees who are residents of Indian <br />River County. To derive this figure, first multiply the total attendance by the percentage of attendees that are <br />residents. Then, multiply the result by the average per person event -related expenditure by resident attendees. The <br />result is the total estimated event -related spending by resident attendees. <br />The second step is to do the same for nonresidents of Indian River County. To derive this figure, first multiply the <br />total attendance by the percentage of attendees that are nonresidents. Then, multiply the result by the average per <br />person event -related expenditure by nonresident attendees. The result is the total estimated event -related spending <br />by nonresident attendees. <br />Then, add the results from the first two steps together to calculate the total estimated event -related audience <br />spending. Finally, the ratios of economic impact per $100,000 in direct spending can then be used to determine the <br />total economic impact of the total estimated audience spending. <br />R <br />AMERICANS FOR THE ARTS I Arts d Economic Prosperity 5 <br />I ; <br />IndianIN'le'dian of <br />Similar Study Regions- <br />10o,000 to -749,999 National -Median <br />i <br />Full -Time Equivalent Jobs <br />2.03 <br />2.53 <br />2.46 <br />Resident Household Income <br />536,058 <br />$53,212 <br />$52,101 <br />Local Government Revenue <br />53,738 <br />$4,418 <br />$4,449 <br />State Government Revenue <br />$6,380 <br />$5,213 <br />55,692 <br />R <br />AMERICANS FOR THE ARTS I Arts d Economic Prosperity 5 <br />