In July 2018, the Parks Department engaged Development Strategies to conduct an economic impact analysis that the Kansas City Museum has and is projected to have upon the economies of the City of Kansas City, the State of Missouri, and the Kansas City Metropolitan Area. The study looked at direct impacts which include state and local tax benefits generated by the Kansas City Museum’s spending and visitor spending in the State, and indirect impacts which measure the multiplier effects of the spending that supports the Kansas City Museum.
The study also looked at impacts in three stages: 1) economic impacts of baseline conditions based on historic operational expenditures and visitation patterns, 2) economic impacts from the $22.0 million Stage I of museum renovations, and 3) the net positive incremental impacts of future operations from expanded programming and operations and increased attendance.
This study relied upon multipliers from the U.S. Department of Commerce to quantify this economic activity in terms of 1) total economic output, 2) household earning generated, and 3) jobs supported. This study also relied upon annual tax revenue data from the state of Missouri and City of Kansas City to estimate the tax revenues generated from this activity. This study does not, however, quantify the impacts that Kansas City Museum most certainly has on the quality of life, education, culture, and collective identity of the Kansas City region.
Click here for a copy of the Economic Impact Study.