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ACL contributes record-breaking $369M in 2021 toward local economy

(Gaby Deimeke/ACL)

Austin City Limits Music Festival had its biggest year yet in 2021 when it generated a record $369.1 million for the local economy.

In the 2021 ACL Music Festival Economic Impact Report released Tuesday, the festival surpassed the 2019 record of $291 million after it was canceled in 2020. Since C3 Presents began tracking economic impact in 2006, ACL has generated over $2.6 billion for the Austin economy.

ACL is one of the biggest annual events hosted in Austin. Last year, the festival attracted 75,000 attendees per day.

The 2021 festival is responsible for 3,903 full-time job equivalents hired or sustained. Over $154 million in labor incomes were paid to Austin employees as a result of the festival. The top sector for economic output is food and beverage, bringing in $102.4 million last year.

Over the last 17 years, ACL has partnered with the Austin Parks Foundation, generating more than $48 million for Austin’s public park system. Last year alone, $6.7 million was generated for Austin park improvements. The proceeds have contributed to the Auditorium Shores renovation, Zilker Park lawn restoration and tree care, and Republic Square renovations.

The lineup for this year's ACL taking place in the typical first two weekends in October was released Tuesday, along with tickets.


A mortgage banker walks us through the math on purchasing a 'mid-price' Austin home

So you want to buy a house?

To anyone trying to get on the "housing ladder," it's been a discouraging couple of years as prices skyrocketed in a market crowded with buyers bidding against each other for just about any available home.

Things may be calming down, with the Austin Board of REALTORS reporting fewer sales and more available homes this summer.

Mortgage rates have more than doubled in the last year, from around 3% to well over 6% on a 30-year fixed rate loan, getting even more of a bump this week after the Federal Reserve raised bank rates on Wednesday.

So how affordable are homes right now? That, of course, depends on what you want and how much you're able or willing to pay, but here are some rough estimates of what a typical buyer would pay to buy a $650,000 home, which would be considered "mid-price" in today's market.

Mortgage banker Chris Holland (NMLS 211033) of Austin's Sente Mortgage ran some numbers for Austonia to illustrate a typical purchase.

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Fall camping: Camp Fimfo Waco offers one-of-a-kind experiences in the heart of Texas
Camp Fimfo Waco

Camp Fimfo Waco, a brand new camping resort, is kicking off football and fall camping season in style! With top-notch amenities, premium accommodations, and 10 weekends of fall fun, there’s no better place to have a fall camping getaway, especially if you’re a Baylor football fan!

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