LUMBERYARD Releases Economic Impact Study With Focus On Catskill Region
As the LUMBERYARD Contemporary Performing Arts Center in Catskill prepares to open its inaugural season, a study of its prospective economic impact has been completed. The paper examines impacts for Catskill, Greene County, and the larger Hudson Valley region.
Adrienne Willis is the artistic and executive director at the LUMBERYARD, which the economic impact assessment performed by Fairweather Consulting deems "A Catalyst for the Creative Economy." "At best case scenario, once we're at full capacity, the facility is expected to generate up to $13 million in annual economic impact. Up to 150 full-time jobs, that's both direct and indirect because an organization like LUMBERYARD being a performing arts center and also a rental facility, has a lot of vendors. So printing, cleaning, laundry, maintenance, security, concessions, snow removal, and all of those vendors will likely have to increase their staff or increase their capacity to service our organization. And we will have up to $1.1 million in local spending during our summer season alone, and, again once we're at full capacity we expect to have up to ten thousand new visitors annually."
Willis says LUMBERYARD has generated almost $10 million from construction and site improvements, expected to be completed by the end of August. "We expect to have over $3 million generated by film and TV production rentals during our first year of operation, and the creation of 84 temporary jobs, both direct and indirect, and the creation of close to 40 full-time jobs, both direct and indirect. And in the first year, over 7,000 new visitors to the area."
According to the study, economic activity associated with construction will provide a one-time increase of $200,000 in property taxes, along with a one-time increase in state and local sales tax of approximately $115,000. About one-third of that will accrue to Greene County.
Republican Senator George Amedore says LUMBERYARD is playing an integral role in revitalizing the village of Catskill in the aftermath of storms Irene and Lee. "I've helped them along the way, making sure that designation, the film tax credit that is new or expanded in the Ulster and Greene County area, that they can apply to, as well as helping kinda remove some of the barriers and obstacles that they faced to revitalize the old lumberyard and to make it a premier studio for the performing arts."
LUMBERYARD facilities are expected to be ready for use by the end of the year.