Client: Cincinnati Music Hall Revitalization Corporation
Role: Project Manager, Economics Center, University of Cincinnati
Year: 2012
Built in 1878, Music Hall suffered from years of degradation to its infrastructure and lacked the modern features of similar venues across the country. The Music Hall Revitalization Corporation (MHRC) recognized the need to restore and upgrade Music Hall not only to remain relevant and competitive as a cultural center, but also to complement the extensive new development occurring around Cincinnati’s urban center.
MHRC hired the Economics Center at University of Cincinnati to research and communicate the magnitude of this revitalization and its economic impact on the region. As Director of Business Development and Project Manager, I expanded the scope to also include a physical and social analyses to illustrate the value that Music Hall has on the entire arts & culture environment of the city.
We ultimately determined that the $149.7 million construction budget would generate a total economic impact of $353.4 million in the local economy. It would generate 1,442 jobs associated directly with the construction and design activities, and an additional 1,554 for a total impact on employment of 2,996 jobs. We projected that for every thousand dollars spent in operations by Music Hall and its four resident companies, the local economy grows by $2,140.
Furthermore, by studying its relationships in the downtown arts & culture scene and the evolving economic development trends, we found that demographic changes in the area favor interest in future cultural arts programming; policing around and for the Music Hall area has had a positve impact on the district and the presence of Music Hall makes the Over-the-Rhine neighborhood a safer place.
View the report HERE.
