Study: Waterfront Park Delivers $40 million Yearly in Economic Impact

Date: 13.04.2018 | News
This article originally appeared on WAVE3’s website. To access the original article, please click here.

Waterfront Wednesday, one of the 150 events held every year at Waterfront Park. (Source: WFPK.org)

“LOUISVILLE, KY (WAVE) – Waterfront Park generates an economic impact of more than $40 million annually – in downtown Louisville and beyond, a study released on Thursday said.

The study, conducted by IQS Research, compiled survey data from more than 1.500 visitors to Waterfront Park. Participants were asked 31 questions by trained data-collectors. The results provided a clearer understanding on the economic impact of the park and on visitor demographics.

Take a look at some of the results:

  • Three out of four visitors to Waterfront Park were from the metro area.
  • 1.1 million people head out to one of the 150 events held every year
  • About 42% of visitors said they wouldn’t have come to downtown Louisville if it weren’t for Waterfront Park.
  • Most people spent between one to two hours at Waterfront Park.
  • About 50% of visitors fell within the 25 to 44-year-old age range.

“For as long as Louisville Waterfront Park has been in existence, WDC has received powerful anecdotes and glowing testimonials from park visitors,” Ashley Smith, Director of Events for the Waterfront Park Development Corporation said. “We have worked with a wide variety of organizations and individuals who have produced special events, and Waterfront Park has been recognized by organizations such as the Urban Land Institute, the Bruner Foundation and the Smithsonian Anacostia Museum, among others. We have seen park traffic increase each year and park events evolve and become more sophisticated.”

The Louisville Waterfront Development Corporation created a handy infographic to illustrate the survey results:”

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