Economic impact of Civil War anniversary events estimated at $290 million
- August 24, 2015
Virginia’s observance of the Civil War’s 150th anniversary had an economic impact of $290 million, according to study released on Monday.
The economic impact study conducted by Richmond-based Chmura Economics & Analytics found that sesquicentennial events and programs brought 3.7 million people to Virginia, generating $8.4 million in state tax revenue and nearly $5 million in local tax revenue.
The report estimates the total economic impact of Civil War programs and events, including commemoration expenditures and visitor spending, was $290.3 million, an amount that supported 3,488 jobs.
Visitors’ direct spending at anniversary events is estimated at $165.7 million.
The study was requested by the Virginia Sesquicentennial of the American Civil War Commission, headed by Speaker of the House of Delegates William J. Howell.
The General Assembly created the commission in 2006 to commemorate the 150th anniversary of the Civil War, which occurred from 2011 through this year.