ESI has released its economic impact study on ODUNDE, Inc.’s annual ODUNDE Festival. Held annually in Philadelphia, the ODUNDE Festival celebrates the diversified African and African-American culture in the city. It is both the largest and longest-running African-American street festival in the United States; in its 40th year.
Regarding the city of Philadelphia, ESI’s study found the ODUNDE Festival has an aggregate economic impact of $28 million and supports 345 jobs with $12.5 million in earnings.
Concurrently, for the Commonwealth of Pennsylvania, ESI’s study found the festival has an aggregate economic impact of $30.6 million and supports 380 jobs with $13.3 million in earnings.
ESI will continue its work with ODUNDE at the 2015 festival, where ESI will gather survey data from attendees to develop a deeper understanding of the profile of festival visitors and refine this impact analysis in future years.
To download and read the report in its entirety, click here.
For more on ODUNDE, click here.