The Peace Center in Greenville has made an economic impact of $1.1 billion on the state, according to an economic impact study conducted by the University of South Carolina Moore School of Business.
The Peace Center has contributed more than $80 million annually to the Greenville County economy, the study says. Beginning this year, that contribution is expected to reach $122.2 million, with the increase being a result of an expansion project on their six acres of land, according to a news release.
By 2029, the expansion is projected to increase the Peace Center’s total cumulative economic impact to $1.5 billion in Greenville County and $1.7 billion statewide.
“The Peace Center was established to be a hub for the performing arts and to improve the quality of life in the region,” Peace Center CEO Megan Riegel said in the release. “The results of this study help prove just how valuable the performing arts are to our community and state.”
Economic activity is generated from a combination of local expenditures the Peace Center invests in to run the facilities as well as non-local patrons spending at local businesses when visiting Peace Center events.
In 2019, the Peace Center generated approximately $34.5 million in direct revenue with $5.5 million going into payroll for its 204 workers.
The year 2022 was the first to reach the same levels of revenue as the pre-pandemic years.
The 18-month construction phase of the expansion currently underway at the Peace Center is scheduled to begin this year with expenditures expected to generate sizable, temporary impacts for Greenville County and the state as a whole. When the expansion is complete in 2024, Peace Center officials anticipate hosting approximately 850 events each year with an expected annual attendance at 450,000.
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Since 1990, the Peace Center has hosted more than 6 million patrons with nearly 13,000 performances and events.
Approximately 30% of the 371,283 people attending Peace Center events in 2019 lived outside of Greenville County.
The local spending activity of non-local patrons represents approximately 18% of the Peace Center’s annual economic impact in Greenville County.
The multi-year, multi-phased expansion to the Peace Center campus was announced in fall 2022.
By Ashlie Puma