Economic Impact of the Pittsburgh Symphony Tallied at $125 Million

In Thursday’s (5/23) Pittsburgh Post-Gazette, Jeremy Reynolds writes, “How do you put a dollar value on art? Well, the Pittsburgh Symphony Orchestra has recently taken a stab at this exact question. The orchestra on Thursday released some key findings from an economic impact study of its 2023-2024 fiscal year, conducted by an independent consultant…. ‘Arts and culture have long been strong contributors to not only our region’s economy but its quality of life,’ said Stefani Pashman, CEO, Allegheny Conference on Community Development…. The top takeaway from the PSO data: For every dollar the symphony spends, it generates about $4 in the local economy, leading to a total of $125 million in regional impact for the year studied. Plus, the symphony, which operates with a budget of about $33 million, helps sustain about 1,900 jobs in the region annually. ‘When someone says, “I’m not a classical music lover, why should it matter to me whether Pittsburgh has a good symphony?” This report is the answer to that question,’ said Melia Tourangeau, the orchestra’s president and CEO. ‘We have the data now. Losing the symphony would shrink the city’s economic base by more than $100 million and put nearly 2,000 jobs at risk.’ ”