Study Reveals Omega Has “Significant” Economic Impact on the Region
Rhinebeck, New York (PRWEB) November 17, 2014 -- Omega Institute for Holistic Studies, a nonprofit organization dedicated to lifelong learning and based in Rhinebeck, New York since the early 1980s, recently retained Camoin Associates to provide an economic and fiscal impact assessment of its operations on the Mid-Hudson Region of New York State. The comprehensive study determined Omega brings significant fiscal benefits to the Mid-Hudson Region, including:
Annual Economic Impact of Omega Institute:
• 474 jobs in the region
• $8.7 million in earnings
• $29 million in sales
• $1.6 million tax revenue
Cumulative Economic Impact of Omega Institute (over ten years):
• $99 million in earnings
• $332 million in sales
• $18 million in tax revenue
“Omega’s diverse programs inspire both personal growth and social change. As we work to
cultivate our own health, happiness, and well-being, a natural outcome of this work is a sense of
connection to our community and planet, and a desire to contribute to building a future that is socially, environmentally, and economically sustainable,” said Robert “Skip” Backus, chief executive officer at Omega. “We are proud we can serve a vital role in the Hudson Valley’s economy while fulfilling our nonprofit mission.”
Located just 90 miles north of New York City, Omega is open seasonally, from April through
October. In 2013, there were a total of 49,867 guest days at Omega, with the average guest staying for about three days. About one third of guests are from New York State, with the remainder visiting from around the nation and internationally. For the purpose of evaluating the impact of Omega on the seven-county Mid-Hudson Region, Camoin Associates used zip code data provided by the Institute to determine the proportion of guests who live outside the region. Spending by these guests is considered “net new” to the region because, if not for Omega, this spending would not have occurred.
Visitors to Omega have an impact on the regional economy as they make purchases, including lodging costs, transportation spending, and other food and beverage purchases. The majority of the visitors’ time, even those staying off-site, is spent on Omega’s campus where they are provided food and drink as part of their registration fee. Combined off-site spending for guests both staying on-site and off-site was estimated to be about $2.8 million.
In addition to the fiscal benefits, Camoin also verified that Omega provides Mid-Hudson Region residents and visitors with valuable opportunities for life-long learning, supports community building within the region, and provides resources to nonprofits to improve their ability to serve. Special mention was made of the significant impact to the region through the following initiatives: Omega Center for Sustainable Living & Leadership in Sustainable Education Award, Omega Women’s Leadership Center, Omega in Service & Service Week, and the Omega Veterans Program.
About Omega Institute for Holistic Studies
Founded in 1977, Omega Institute for Holistic Studies is the nation's most trusted source for wellness and personal growth. As a nonprofit organization, Omega offers diverse and innovative educational experiences that inspire an integrated approach to personal and social change. Located on 200 acres in the beautiful Hudson Valley, Omega welcomes more than 23,000 people to its workshops, conferences, and retreats in Rhinebeck, New York, and at exceptional locations around the world. eOmega.org
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Chrissa Pullicino, Omega Institute for Holistic Studies, http://eOmega.org/press, +1 (845) 266-4444 Ext: 404, [email protected]
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