Lake Shore Live Bounces Music Across the Bay in Escanaba (Economic Development)

Lakeshore Live bounces music across the bay in Escanaba. If you were on your boat listening, enjoying a cold one (of whatever) you might get a whole Humphrey's type of experience (ok...for my San Diego friends they understand). We walked down to the event, listened to music, check out some of the vendors and enjoyed the beutiful summer weather. We walked back up to some of the old world clubs on main. It doesn't get much better than this! Consdier that tourism, the marina, and the economy is upward bound we are making headway in Esky.

It is possible to measure economic impact of events. That would require a little bit of coordination of some of the businesses, surveys, etc. to help get a feel for how each genre of events and activities improves the economy. For example, if attendees at Lakeshore Live spent at the local vendors, stopped at the bar, drew in people from a 50 mile radius that ate supper, etc. you can come up with a number. The issue being knowing when and how much they bring in through reasonable benchmarks. 

Let us say that each event brought in an additional $150 to local business (and some back to local tax coffers). Some events like bands brought in XXX dollar amount and another brought in XXX dollar amount. We can start to understand the value of these events and coordinate their schedules so that we can attract different types of people, with projeted economic impact throughout the year.

In other words, you can coordinate to maximize economic impact and local growth (Don't forget hedging in a cluster with a few other industries to create resilience during economic change. i.e. downtown and exportation of homegrown products ranging including ship building, paper/cardboard, small downtown tourist business products, etc.) You may want to read Economic Impacts

What would be interesting is if the town can meet a threshold where future events, businesses, activities, infrastructure, so on and so forth create enough net positives that the wealth of the area continues to rise creating more financial health. Escanaba is fiscally solvant and general runs with a net surplus in its budget. Something many other government entities are struggling but they are doing well. They do have some new needed updates that will cost them. 

What would happen if we create real local wealth that that can be invested back into our schools, colleges, infastructure, streets, parks, etc...? What would a town look like if it was had high return on investments and then used that money wisely? 🤔

Anways.....good times.