Report: Coachella & Stagecoach bring millions into the valley

We have more information on how much money the Coachella Music and Arts Festival and Stagecoach should bring to the valley this year. More than 300,000 people are expected to attend the concerts.

According to a report by Development Management Group $403 million will be spent in the Coachella Valley during festival season by concert goers with the city of Indio seeing around $106 million in spending.

In total people around the world would be spending around $704 million to come to the desert for the concerts in April.

Goldenvoice, the company that promotes both the Coachella Music and Arts Festival and Stagecoach, hired Development Management Group to make the report.

SEE THE FULL REPORT ON THE ECONOMIC IMPACT FOR CONCERT SEASON

Nothing official has been announced yet but Goldenvoice is permitted to host two more concerts at the Empire Polo Grounds, and economists did forecast for those shows as well.

According to their math the valley would see $804 million in spending with $212 million of that being spent in Indio.

Also according to those forecasts for five concert weekends the city of Indio would make more than $6 million in tax revenue which is about 15 percent of its general fund budget.