St. Patrick's Day parades are responsible for a major dose of revenue for city coffers and their downtown merchants.
EL SEGUNDO, CA (PRWEB) March 16, 2013
Donning green attire may be the most some individuals can do to celebrate St. Patrick’s Day this year, as traditional parade festivities are being cut across the country. In its latest investigation, GoBankingRates uncovers the steep price of hosting a St. Paddy’s Day parade, and identifies several major parades that have been cut this year due to lack of funding.
According to a MassLive.com study, the cost of their local Holyoke St. Patrick’s Parade exceeded $12 million in 2011. The marching band alone cost $58,000, while law enforcement was an additional $86,000.
While the associated expenses of putting on a parade are certainly significant, Paul Sisolak, GoBankingRates contributor, explains how local communities benefit from hosting the holiday celebration: “St. Patrick's Day parades are responsible for a major dose of revenue for city coffers and their downtown merchants,” Sisolak argues. “No parade, no people attending the parade to funnel money back into the local economy.”
Fortunately, GoBankingRates finds that there are still St. Patrick’s Day celebrations taking place across the U.S. this weekend.
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Source: MassLive.com, Study: Holyoke St. Patrick's Parade means $20.5 million in economic activity, March 12, 2012.
Photo: Christopher Macsurak via Flickr Creative Commons