Category: Featured

The Economics Of Music: New Economic Impact Study On The Horizon

By Jeffrey Martin One of the music strategy’s original goals was to have a full blown economic impact study conducted for Hamilton. Other “music cities” like Seattle, New York, Melbourne, Austin, Toronto know the importance of these studies. They provide a measure for the industry in terms of its size and breadth, number of jobs and the overall financial impact on the local economy. The music strategy team was unanimous that a proper economic impact study of Hamilton’s music industry is long, long overdue. “To be honest, an economic impact study is the most important task that needs to be done,” says Madeline Wilson, former music strategy team co-chair. “Anything that we can use to measure the financial impact of music on our city’s economy should be embraced. It can help our music businesses. We see how busy local restaurants and businesses are so busy before concerts and music shows – so the indirect impact is big. Very big.” The impact study should’ve been done three years ago when the music strategy was launched. It’s a time-consuming process and there are not a lot of companies that do them. The fact that Hamilton has not conducted one is like going into battle without a sword says Wilson. “It’s critical if we want to be able to identify Hamilton as a strong music economy,” says Wilson. “We need to know...

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