The annual celebration of gay, lesbian, bisexual and transgender heritage, community and culture has grown dramatically in 35 years and is now ranked as the sixth-largest Pride celebration in the country.
An estimated 275,000 people attended the two-day festival in 2009 -- which means big business for the metro area.
A study by Birchhill Enterprises in 2009 found that PrideFest created an estimated $23.4 million in direct and indirect economic impact for the Denver metro area. Total sales tax dollars generated for the Denver area, based on a 3.62% tax rate, came to $563,189.
The festival created an estimated $1.2 million in total sales tax revenue for the state of Colorado, according to the Birchhill study.
"PrideFest doesn't just symbolize the pride and solidarity of LGBT people in Colorado, it also shows the economic might of our community," said Carlos Martinez, executive director of the GLBT Community Center of Colorado, which produces PrideFest every year.
About 83 percent of PrideFest attendees in 2009 were locals; 17 percent were visitors. Approximately 43,660 of the local attendees said if the festival had not been held, they would have left the Denver area that weekend to find other recreational opportunities. The estimated amount of money that would have left the Denver area had PrideFest not been held was $14.32 million, the survey found.
Many corporations have discovered the economic strength of the LGBT community, with sponsorship of PrideFest growing each year.
Sponsors of Denver PrideFest 2010 include MileHighGayGuy.com, Coors Light, Comcast, Westword, Three Olives, At the Beach, Channel 2, Fox 31, Occasions by Sandy, Kaiser Permanente, Wells Fargo, Petco, Walgreens, Element, Eldorado Spring Water, CH2MHill, City of Denver, Public Service Credit Union, Progressive Insurance, US Bank, Lara Bar, Fuze, Northglenn Ambulance, Unidos N Orgullo (UNO), Sirius Radio, Magnolia Hotels, Hotel Teatro, Residence Inn-Marriott, Cascadian Farm Organic, Erico Motorsports, Babes Around Denver, Element, Cafe Vivid, Hot 107.1 FM, AM760, KGNU, DJ Tatiana and Grindr.
