Prosper Portland retained Johnson Economics to undertake an economic impact study that confirmed the gap in venue size within the Portland market, estimated the economic impact of adding a new venue to the market, and collected national case studies to better understand potential impacts of Live Nation-controlled space on the Portland market and other music venue operators.
National booking data indicates that roughly 43% of shows have between 1,000 and 4,000 attendees. This show size accounts for an estimated 32% of tickets sold and 22% of revenues nationwide. According to the study, the proposed facility addresses a critical gap in the city’s overall portfolio of venues, with limited overlap with existing facilities. Construction of the venue will result in $47.2 million in direct investment. Once constructed, the venue will employ 71 full time workers and is anticipated to drive more than 5,000 room nights per year to local hotels by 2029.