Local & State
Holyoke St. Patrick’s celebrations generate $39.3 million in annual economic impact, study finds
PN Team • 2 months ago
A new economic impact study commissioned by the St. Patrick's Committee of Holyoke found that the city's St. Patrick's Parade, road race and related events generate about $39.3 million in annual economic output for Hampden and Hampshire counties in Massachusetts. Conducted by Cambridge Econometrics, the study estimated the celebrations support 275 jobs, produce $10.6 million in wages, and create $23.4 million in new local sales after accounting for spending that would have occurred anyway.
The parade drew roughly 350,000 spectators and the road race about 56,000 participants and spectators, including 6,000 runners, with visitor spending topping $23 million. Local businesses, including hotels and restaurants, reported major revenue spikes during the weekend. The study also found the events generate about $2.3 million in state tax revenue and $86,000 for Holyoke, and credited roughly 200 volunteers who contribute about 32,000 hours annually, work valued near $970,000. It was the first study to include the road race alongside the parade.
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Sentiment
- Massachusetts Massachusetts is positively associated with the state tax revenue generated and the counties involved.