AUSTIN, Texas - Every year since 2002, the Austin City Limits Music Festival has continued to attract thousands of people, and with that, comes money pumping into the local economy.
In 2021, $345 million is how much the event brought into Austin. That money went into all aspects of the economy, especially the hospitality industry.
"That's almost the same thing as having a Super Bowl in this city," said Mayor Steve Adler.
Last year was the first time the festival's impact went above $300 million. It came close to it back in 2019. It's a milestone for the city, and shows just how much tourists and locals were ready to enjoy the live music once again after its cancelation in 2020.
"Events like this bring in not only great entertainment, but resources that enable us to really help do the kinds of things that this community wants to see," said Adler.
The Austin Parks Foundation is getting $6.7 million of the monetary benefit. The nonprofit organization has been collecting money from the event each year. That money just recently opened the brand new Georgian Acres Neighborhood Park in north Austin.
Many families have already begun to show their appreciation for the project.
"ACL gave about $100,000 to this park that we are standing in. This space we are in was just a piece of dirt until this project," said Colin Wallice, CEO of Austin Parks Foundation.
Wallice said they plan to use the cash to address parks in historically underserved neighborhoods. Council member Chito Vela said the foundation will look into revitalizing more parks in his district as well.
"We all know and love Zilker Park. I’m happy to take one of our most beautiful park spaces in this city and to leverage it for community benefit.