The Pittsburgh Symphony Orchestra Supports 1900 Jobs and Contributes $125 Million to Regional Economy
norman lebrecht May 28, 2024 The Pittsburgh Symphony Orchestra’s Role in the Economy: PITTSBURGH, PA— A recent study unveiled the significant economic impact of the Pittsburgh Symphony Orchestra (P… The Pittsburgh Symphony Orchestra (PSO) has been identified as having a significant economic impact in its local community, contributing $125 million to the regional economy and supporting 1900 jobs each year. The PSO operates on a $33 million annual budget and its $125m regional economic footprint implies a nearly 4-fold return for every dollar invested, surpassing similar benchmarks set by other large city orchestras. The report also highlighted the PSO's commitment to education and community engagement, with musicians serving as faculty in over 75 institutions worldwide and its contributions to local higher education and music participation. The organization also supports music participation among youth through rigorous teaching and mentorship programs.
Pubblicato : 11 mesi fa di Aditya in World
The Pittsburgh Symphony Orchestra’s Role in the Economy:
PITTSBURGH, PA— A recent study unveiled the significant economic impact of the Pittsburgh Symphony Orchestra (PSO) in its local community for the Fiscal Year 2023/24. An esteemed consulting firm’s independent analysis provides insight into the PSO’s contributions, including a whopping $125 million in economic benefit and consistent support for 1900 jobs year after year. These figures highlight the extensive benefits of PSO’s activities, which transcend their mission of providing world-class musical experiences and commitment to education and community engagement.
The PSO operates on an annual budget of $33 million. Its $125 million regional economic footprint implies a nearly 4-fold return for every dollar invested, surpassing similar benchmarks set by other large city orchestras examined in the study. Moreover, the PSO has been recognized for bringing a more significant number of visitors to the Pittsburgh Cultural District than any other local arts producer. Marty Bates, Executive VP and COO of the Pittsburgh Symphony Orchestra, underscores the global resonance of PSO, extending from their European tours to recordings and live streams that propel Pittsburgh’s culture onto the world stage.
The consulting firm also acknowledged the PSO’s educational contributions. With musicians who have served as faculty in over 75 institutions worldwide, PSO bolsters local higher education with a $12 million impact. It also fosters music participation among the youth through rigorous teaching and mentorship programs, an investment exceeding $1.3 million in music education, enhancing academic achievements abundantly.
Melia Tournageau, President & CEO of the PSO, notes the orchestra’s dedication to innovation for matching society’s changing needs. She believes that the cultural and economic benefits, including impacting over a quarter-million people with the joy of live music and nurturing upcoming talent, are a testament to PSO’s influence on its community.
The report concludes that beyond stimulating $125 million in regional spending, PSO also directly contributes to nearly 1900 jobs within the Pittsburgh MSA, a figure seven-fold larger than the organization’s own employment number. The PSO also plays a critical role in retaining a substantial portion of the area’s professional artists, more so than any other arts institution in Pittsburgh.
Temi: Markets