Dear Friends,
As the plans for the exciting Music Hall Revitalization (scheduled to begin in May 2014) continue to progress, we are pleased to bring you another installment in our series of communications. Please click here to review all of our previous messages.
Again, these emails are designed to keep you informed and up-to-date on this important project, as well as the collaborative decisions being made by the Music Hall Revitalization Company (MHRC) and Music Hall’s resident arts groups regarding the future of this beloved and historic venue.
The primary objective throughout the revitalization planning has been to make the Music Hall experience truly extraordinary for our audiences and create a vibrant anchor in a neighborhood bustling with new development. Back on May 18 we talked about exciting developments in the Over-the-Rhine neighborhood that have garnered national attention, and this week’s communication focuses on the Music Hall revitalization project’s impact on our region’s economy.
According to a University of Cincinnati Economics Center and Community Design Center study released on May 8, “the proposed revitalization and future operations of Cincinnati’s famed Music Hall will have a considerable impact on the Greater Cincinnati regional economy.” Part of that impact comes from the construction project itself which, according to the University’s study, will create 2,996 jobs (including 1,442 jobs associated directly with the construction and design work), raise over $2.7 million in tax revenues and have a total economic impact of $353 million for our region.
Of course an investment in this great Cincinnati landmark will continue to pay dividends once construction is completed. The revitalization’s lasting impact is a greatly improved Music Hall experience attracting new audiences for the Cincinnati Symphony and Pops Orchestra and the May Festival, our partners at the Cincinnati Ballet and Cincinnati Opera, and the many other activities including performances, banquets, weddings, meetings, tradeshows, graduations and dances. Addressing the immediate capital needs of Music Hall and improving the patron experience is essential to the long-term sustainability of the performing arts groups, which also contribute significantly to the local economy. The total economic impact of the hall’s four resident arts organizations alone is $118 million annually. According to the U.C. study, “for every thousand dollars spent on operations, the local economy grows by $2,140.”
The revitalized Music Hall will also drive further development throughout the surrounding neighborhood in the form of new homes and businesses. Since 2004, Cincinnati Center City Development Corporation (3CDC) has invested nearly $162 million in Over-the-Rhine, which includes about $28 million in public support from the City of Cincinnati. The balance of the funding has come in the way of tax credits, loans and other private sources. Music Hall is an essential anchor in that important development effort, and the economic benefits of the hall’s revitalization are clear.
As always, we welcome your feedback at musichall@cincinnatisymphony.org and appreciate your continued support. You can also contact the Music Hall Revitalization Company directly at MHRC@cincinnatiarts.org. We will continue to advocate for the best possible audience experience at Music Hall throughout this process, and for the preservation and protection of this Cincinnati landmark.
Again, you are Music Hall’s most vital spokesperson. I encourage you to be an advocate, promoting the best interests of our treasured venue. This is a critical juncture in the life of the building. The need is great, but I have every confidence that with the support of the entire community, Music Hall will continue to be a great Cincinnati icon with a lasting cultural and economic impact for the region.
Sincerely,
Trey Devey
President,
Cincinnati Symphony and Pops Orchestra,
Cincinnati May Festival
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