The New Performing Arts Center is a proposed 2,500-seat, state-of-the-art theater located in the heart of Utah's Capital City at the 100 block of South Main Street. The performance venue helps to fulfill community leaders' longtime vision for a vibrant city – rich in the arts – that belongs to all of Utah.
The theater will attract the biggest and best touring Broadway productions, nationally prominent family shows, and music and comedy acts. Not only will these shows be in Salt Lake City much sooner with the new venue, but tickets will also be available in a wider range of prices, making Broadway more affordable to all Utahns. The theater will also serve as an additional venue for local arts organizations.
Goals for the New Performing Arts Center
The New Performing Arts Center will provide an economic catalyst on Main Street and serve to:
- Expand number of touring Broadway and musical performances
- Expand audiences
- Enhance the vitality of Main Street and downtown Salt Lake City
- Provide an economic driver for Utah's Capital City and the region
- Broaden audience appeal throughout the region
- Create a venue option to accommodate growth of community arts groups
- Increase flexibility/diversity of entertainment programming
- Build on Salt Lake City's legacy of community arts and culture
- Develop a state-of-the-art venue for arts enthusiasts that will present touring Broadway, local performances and exceptional cultural experiences to engage, excite, unite and inspire.
Economic Impact of the New Performing Arts Center
- $200-$500 million in one-time expansion of the economy
- $9.4 million per year in total ongoing economic output from the theater alone
- 115 permanent jobs created
- 1,671 to 4,000 jobs created during construction
- More entertainment spending retained in Utah
- More downtown activity, parking revenues, restaurants and retail sales
- $1 million in incremental property taxes associated with the office tower
Measureable Success of U.S. Cities that Built Similar Performing Arts Centers
Durham, North Carolina
- The overall market impact of the Durham Performing Arts Center (DPAC) included a city share of 2010 revenue 5 times the initial projection
- $27.3 million in annual citywide economic impact
- More than 10,000 annual season tickets were sold
- 96 events were attended by more than 340,000 in the first full year
- Five new downtown restaurants opened in the first full year
- The Overture Center saw a five-fold increase in area property value over 10 years
- Produces $10 million in annual downtown spending
- Omaha Performing Arts is the owner and operator of the Holland Center and Orpheum Theatre which produces 350,000 downtown visits annually.
- Downtown housing market has seen a major resurgence, even through the recession.
- The Pittsburgh Cultural District has produced 10,192 full-time employees countywide in arts and culture
- Successful re-marketing of the Pittsburgh region as a cultural hub.