Summer events boost local business income

As featured in the Journal Record

Oklahoma City is filled with a variety of fun events and activities over the summer, providing a regular boost to our economy. From farmers' markets to festivals to air shows, this time of year is an exciting time for our city. These celebrations are more than just recreation; they generate economic growth and incite long-standing civic pride for old and new residents alike.

So far this summer, Oklahoma City has hosted a wide variety of festivals, including Juneteenth on the East in the East End District, the H & 8th food truck festival downtown, and Pride on the Plaza. These events have drawn thousands of people to OKC, supporting hundreds of local businesses along the way. Given that more than 70% of all businesses in OKC are small, local businesses, events to boost their reach are an important opportunity to be had. Later this month, the Tinker Air Force Base will host their annual Tinker Air Show, in which dozens of military and civilian aerialists will perform by a wide selection of aircraft on display on the ground.

On a smaller scale, Scissortail's weekly farmers market is back in season, promoting nearby artisans, small businesses, and local farmers. According to a USDA survey of 21 farmers' markets across Oklahoma, these events generated about $3.3M in revenue and supported over 100 full-time jobs.

Beyond fun, festivals provide a number of other benefits to the city, and top of that list is people. Events draw out-of-town people to the city and pull residents out of their homes into community spaces. The increased foot traffic around OKC stimulates economic growth and supports local businesses. As people spend more money at community events, their disposable income returns to the economy and brings more value to the dollar, enriching our local economy.

Read the rest of the column at the Journal Record.

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