*Reportedly, Jay-Z‘s “Made in America” will cost Los Angeles taxpayers $170,000, but the city’s mayor Eric Garcetti said the festival is worth the cost.
According to LA Times, Live Nation will pay half of the $670,000 cost of the two-day festival. But taxpayers will have to pitch in too.
It was LA’s first time hosting the festival after its expansion from Philadelphia. But with the change came a lot of criticism.
“I just don’t think the city should pay a penny,” James O’Sullivan, president of the Miracle Mile Residential Assn, said to LA Times.
He added, “how many sidewalks can that pay for? How many pipes can it fix? That crucial infrastructure is crumbling, or deteriorating, under our feet.”
But Garcetti is confident in the festival’s benefit to the city — using a Philly report as an example, which stated the city made $10 million from the festival.
“We will absolutely net more as a city than we would if it hadn’t happened,” Garcetti told the LA Times. “I’m confident of that.”
He’s not alone in believing in the benefits. Carol Schatz, head of the Central City Association, said the benefit goes beyond money though.
“It’s about the perception that it generates,” Schatz said. “That L.A. is really the place to do this and the place to do this in L.A. is downtown.”
Pop and hip hop stars Kanye West and Iggy Azalea headlined the festival, which took place on August 30 and the 31. But as for the economic benefit, that comprehensive analysis will be released later this year.