Memphis, Tennessee | 2021
When local governments invest in their parks, they’re investing in more than just community spaces in which residents can exercise, picnic, and unwind. Those investments also support their economy. Our team worked with PROS Consulting, Inc. to provide an economic contribution analysis of the City of Memphis’s investments into their Parks and Neighborhoods Division. In other words, we estimated how every dollar that was spent by the Parks Division in 2017-2019 rippled through the regional economy. Through direct and indirect effects, Memphis Parks spending supported an average of $70.7 million of economic activity, 577 full- and part-time jobs, and $2 million in state and local tax revenue every year. For every dollar Memphis Parks spent, $1.81 in economic activity was supported. Our analysis is included in the 2020 Master Plan for the Parks and Neighborhoods Division and will inform local decision making on the economic significance of investments into Parks.
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Photo Credit: Joshua J Cotten