The Toronto Downtown Jazz costs about $3.5 million (Canadian) to stage (paid for through ticket sales and sponsorships), but adds $20 million to the local economy. (Not that finding sponsors is ever easy: it took six people making pitches to 75 companies over 12 months to find three new sponsors.) The biggest cost is the entertainment. Jazz festivals in Ottawa and Montreal are held around the same time so that out-of-town artists can play all of them, making it more economical to fly them in.
The Montreal International Jazz Festival costs $20 million and generates at least $100 million for the local economy.
"The most recent economic impact study, by Festivals & Events Ontario, found that the top 17 festivals in Ontario have a combined financial impact of $345 million on the regional economy and create more than 10,000 full-time jobs annually. Smaller festivals generate on average between $400,000 and $2.7 million for local economies. Were even three major festivals to stop operating, more than $100 million would be lost to regional economies every year."
TheStar.com - Festivals give Ontario a financial boost
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