The 2010 Sundance Film Festival generated an overall economic impact of $62.7m for the state of Utah according to a new report.

In a study conducted by the University of Utah’s Bureau Of Economic And Business Research at the David Eccles School Of Business (BEBR), the festival supported more than 1,500 jobs, generated more than $18m in media exposure and provided $3.3m in state tax revenue.

That said, while the attendance level of 41,221 (of whom 60% were from out of state) was on a par with 2009, overall revenue was down. Festival attendees spent $24.9m on accommodations, $10.6m on meals, $2.4m on transportation, $6.9m on sports and recreation and $4.9m on discretionary items.

Figures do not include spending on airfare, private dinners, parties and receptions held by the industry, sponsors or non-Sundance Institute affiliates.

“In this difficult financial climate, it is encouraging that Sundance Institute continues to attract spending, employ workers, and stimulate the state’s economy,” Utah governor Gary R Herbert said.

Bill Gates, George Soros, Nobel Laureate Muhammad Yunus and Earth Policy Institute president Lester R Brown were among those who attended this year’s ten-day event.

“Particularly as a nonprofit organisation with only 85 full-time employees and limited resources due to the state of the economy, we take tremendous pride in how the Sundance Film Festival unites the global film community with the people of Utah to bring international visibility and true cultural exchange to the state,” Sundance Institute managing director Jill Miller said.

Since 1994, the Sundance Institute has brought in excess of $500m in economic activity to Utah through the annual festival.