The Electric Daisy Festival is a workhorse for the Las Vegas economy, report indicates

Considering the recent economic focus on electronic music, especially with SFX Entertainment going on buying sprees and going public, it's about time someone calculated what an electronic festival actually did for a location. Beacon Economics was up to the challenge, recently releasing a report calculating the money brought into Las Vegas and Clark County by the annual Electronic Daisy Carnival.

It's a lot.

Insomniac, the promoter of the EDC, has brought more than $621 million to Las Vegas since 2011 through a variety of electronic events, including multiple EDCs. $278 million of that sum was from last year's festival alone.

According to Beacon, the festival brought 345,000 attendees to the Las Vegas area, and 95 percent of those concertgoers were from locales other than the city. The huge influx of outsiders generated an estimated 92,000 nights booked at local hotels, estimated to generate $25 million in revenue. Those fans had to eat as well, spending more than $45 million on food and drink. Plus, the concert was in the desert on the outskirts of town, so transportation brought in another $22.1 million.

And, being Las Vegas, those in town opted to hit the town when they weren't dancing at the festival. Gaming and other entertainment brought in a combined $32.7 million, with an estimated $11.8 million being spent on outside retail.

The total haul was worth roughly 2,686 full-time jobs, based on Beacon's research. Local workers also did well, as $113.8 million was spent on labor for the festival.

Businesses and citizens weren't the only ones to make out. The festival alone generated $17.4 million in local and state taxes. And that's not counting taxes on everything else mentioned.

The moral: If you're a decent-sized city looking to bring in some extra income, woo some electronic music festivals.