During the 2016 year, more than $704 million will be collected by the global economy after Coachella Valley Music and Arts Festival and Stagecoach Country Music Festival.
According to the projections by the Coachella Valley Economic Partnership and Greater Palm Springs Convention this past Tuesday, more than $403 million will directly benefit businesses in the Coachella Valley with at least $106 million going to businesses in Indio specifically.
In addition to these numbers, the city of Indio will bring in about $3.18 million in ticket taxes by an estimated 273,000 people coming to the Coachella Valley.
“I guess you could argue that we import money and we export, quite frankly, memories and some suntans,” said Michael Bracken, chief economist of Development Management Group. “We knew that the dollar amount figures were going to go up, but we weren’t realizing how much they were going to go up,” said Indio Mayor Glenn Miller.