Budget Cuts Put Local St. Patrick’s Day Parades on the Chopping Block, According to New GoBankingRates.com Report

St. Patrick’s Day parades are a longstanding tradition, but according to the latest report from personal finance site, http://www.GoBankingRates.com, residents throughout the U.S. may find streets empty this year. The new GoBankingRates investigation reveals how much it costs local committees to organize a Saint Patrick’s Day parade, and which cities have been forced to cancel the beloved festivities due to underfunding.

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St Patricks Day Parade

St Patricks Day Parade

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.

Click here to see the full list.
For questions about this report or to schedule an interview with a GoBankingRates editor, please use the contact information below.

About GoBankingRates

GoBankingRates.com is a national website dedicated to connecting readers with the best interest rates on financial services nationwide, as well as informative personal finance content, news and tools. GoBankingRates collects interest rate information from more than 4,000 U.S. banks and credit unions, making it the only online rates aggregator with the ability to provide the most comprehensive and authentic local interest rate information.

Contact:

Jaime Catmull, Director of Public Relations
GoBankingRates.com
JaimeC(@)GoBankingRates(dot)com
310.297.9233 x261

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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


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