GENERAL TOURISM IMPACT

Based on the success of the inaugural Festival of the Arts BOCA in 2007, the Centre for the Arts (CFA) believes that the 2008 Festival will make a highly significant contribution to the reputation of Boca Raton and Palm Beach County as a quality tourist destination. Historically, South Florida has been a pre-eminent tourist destination based on its natural environment (ocean and beaches), a balmy wintertime climate and superior recreational amenities (tennis, golf and fishing). Increased competition from other tropical destinations including the west coast of Florida, the Caribbean and Meso-America, together with the changing character of South Florida, threatens to diminish South Florida’s competitive position in the national and international tourism market.

Festival of the Arts BOCA, with performances by internationally acclaimed, award-winning artists represents a real opportunity to establish an enduring stature in the South Florida cultural landscape and a distinct position in the South Florida tourism market. The Festival represents a unique opportunity, in quality and in timing, to establish Boca Raton and Palm Beach County as the perfect balance of sun, fun and culture.

CFA festival partner, IMG Artists, selected Boca Raton for the wintertime edition of their festival series in Tuscany and Naples, because IMG Artists saw the opportunity in Palm Beach County to offer world-class cultural offerings in an existing, quality tourist destination. CFA believes that the Festival of the Arts BOCA is an opportunity for Palm Beach County to be seen, in its own way, as one of the best destinations in the world — on the same level as Tuscany and Napa Valley.

ECONOMIC IMPACT

Recent experience in Broward County with a major art presentation resulting in an estimated economic impact of $150 million demonstrates how a high quality cultural event can have profound ramifications for a community. CFA believes that the Festival of the Arts BOCA 2008 will have a substantial economic impact on Palm Beach County in several ways. The Festival will again bring over 200 artists, management and production personnel to the County. Many of the artists will be in residence for several days each.

Moreover, the consensus is that the inaugural Festival in 2007 substantially boosted area businesses. Some estimated that the area restaurants experienced increases in revenue between 15% to 30%. Over 25% of all tickets sold were to out-of-county purchasers, many of whom required hotel accommodations, thus generating more revenue for the City and County.

CFA projects that for the Festival of the Arts BOCA 2008 the:

• Number of room nights to be sold to the Festival participants, staff, and out of county audience will exceed 2,000
• Total estimated local income generated will exceed $1 million
• Number of FTE (full-time equivalent) local jobs created will be 72.3

Cultural activities such as Festival of the Arts BOCA are known to contribute to the quality of life for residents by stimulating relocation of businesses to the community and the promotion of related uses such as restaurants and hotels; enhancing property values; and generating overall profitability for the community.

IMPACT ON THE COMMUNITY

At the inaugural Festival, CFA invited over 2,000 local students to a total of five open rehearsals featuring the Russian National Orchestra, violinist Itzhak Perlman, and flutists Sir James and Lady Jeanne Galway. In addition, four Master Classes were offered, one at Lynn Conservatory, one at the Dreyfoos School of the Arts, one at St. Andrew’s and one at the Amphitheater. All of these events were offered at no cost to the schools or to the students. CFA is pleased to announce that our educational outreach program will be ex-panding for the Festival of the Arts BOCA 2008.