Milwaukee World Festival, Inc. Releases Economic Impact Results; Summerfest and Henry Maier Festival Park Generate $318 Million; Announces Long-Term Partnership Extension with PepsiCo Beverages
MILWAUKEE, WI (March 7, 2024) – During the Milwaukee World Festival, Inc. (MWF) Board of Directors meeting, Chairwoman Mary Ellen Stanek announced the results of an independent 2023 economic impact study. The study was conducted by Tourism Economics, an Oxford Economics Company, a leader in global economic forecasting and econometric analysis.
Summerfest presented by American Family Insurance generated a total economic impact of $160.3 million for the city of Milwaukee and supported 3,400 total part-time and full-time jobs. For the state of Wisconsin, Summerfest generated $188.7 million in economic impact, along with $14.4 million in state and local taxes.
MWF, which maintains and improves Henry Maier Festival Park, hosted 64 events in 2023, an 83% increase in comparison to 2019. Over 1.2 million fans attended Summerfest, ethnic and cultural festivals, concerts, the Northwestern Mutual Community Park, and other community events.
The 2023 event season at Henry Maier Festival Park generated a significant economic impact in the city of Milwaukee with $263.2 million, supporting 4,300 total part-time and full-time jobs and $318 million for the state of Wisconsin, generating $22.6 million in state and local taxes.
“As demonstrated by these numbers, Summerfest and the events at Henry Maier Festival Park are a powerhouse for our local and regional economy. Milwaukee World Festival, Inc.’s commitment to community engagement, innovation, and sustainability is a key driver in fostering growth and making a meaningful difference in our community,” said Mary Ellen Stanek, Chairwoman, Milwaukee World Festival, Inc. Board of Directors.
“The results of these studies confirm the remarkable impact of Henry Maier Festival Park’s event season, serving as a catalyst for economic impact, bolstering revenues for businesses, and providing significant employment opportunities within our community. As visitors enjoy our city and events, they contribute to the vibrancy of our local economy and amplify our region’s appeal on a global scale,” said Sarah Pancheri, President and Chief Executive Officer, of Milwaukee World Festival, Inc.
Other key findings from the study include:
• Total direct spending during the three weekends of Summerfest amounted to $110.2 million in 2023 with visitors and vendors spending money on items such as food, souvenirs, and other retail purchases.
• For events held at Henry Maier Festival Park in 2023, $182.4 million can be attributed to direct spending at festivals and events, including other establishments and businesses in the local economy, such as local restaurants, hotels, retailers, and recreation/entertainment venues.
In addition to announcing the results of the 2023 economic impact study at the board meeting, MWF shared the extension of a long-term partnership with PepsiCo Beverages through 2030. Pepsi will continue to be the official soft drink of Summerfest and will also have its products served at events throughout the season at Henry Maier Festival Park.
“We are thrilled to announce the extension of our partnership with PepsiCo Beverages. Beyond the menu, Pepsi continues to support MWF’s mission to keep the festival affordable and accessible through sponsorship of free admission promotions. We look forward to continuing to deliver great tasting beverages to our guests, showcasing Pepsi innovation, and positively impacting the community through our partnership.” said Kevin Canady, Vice President of Sales and Business Development, Milwaukee World Festival, Inc.
For more information on the 2024 season visit MilwaukeeWorldFestival.com.
About Milwaukee World Festival, Inc.
Milwaukee World Festival, Inc. is an independent, private 501(c)(3) corporation founded in 1965 that produces Summerfest presented by American Family Insurance, a three-weekend music festival featuring over 600 artists across 12 stages. Milwaukee World Festival, Inc. also maintains and improves Henry Maier Festival Park, located on 75 acres on the shores of Lake Michigan in Milwaukee, WI. In addition to Summerfest, Henry Maier Festival Park hosts a variety of ethnic and cultural festivals, concerts, family programming, walks, runs, and other special events. The mission of the organization is to promote an understanding of different ethnic cultures, the histories and traditions of various nationalities, harmony in the community, civic pride as well as to provide a showcase for performing arts, activities, and recreation for the public and employment opportunities for the youth of the community. For more details, visit MilwaukeeWorldFestival.com or Summerfest.com, and on socials @MilwaukeeWorldFestival or @Summerfest.
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