GREENSBORO, N.C. — A downtown performing arts center could result in a $7 million dollar impact on the local economy, according to a study.
The Greensboro City Council was presented with the study at Tuesday night’s meeting by AMS, a research firm.
The study indicates the center could hold between 2,500 and 2,800 seats and bring in 160 performances each year with up to 300,000 people turning out.
Ticket sales and fees would generate an operating profit of more than $500,000 by its third year and would not compete with local arts organizations, according to the firm’s research.
The study also showed that youth performances and the symphony would be the most attracted events at a downtown center.
It would cost approximately $50 million to build the center. Its proposed that $30 million would come from public bonds, $10 million from private money and $11 million from the city hotel tax.
City leaders have yet to decide if they plan to move forward with building the center.