Three years after starting Bangor’s Waterfront Concert Series, one UMaine economist has pegged the events’ economic impact at just over $30 million.
The figure is based on $18.6 million of concert-related spending and another $11.8 million that Professor Todd Gabe estimates the annual concert series generates, according to the Bangor Daily News.
Those totals include figures that show a growing impact from the concert series, which Gabe’s study says generated less than $5 million in 2010 while spurring nearly $16 million in direct and indirect spending in 2012.
Concert promoter Alex Gray told the paper he hopes to see continued growth in the concert series with the addition of a permanent amphitheater currently under construction.
