Restored Sag Harbor Cinema Will Boost Main Street Businesses, Study Says

SAG HARBOR, NY – With passionate supporters rallying to rebuild the Sag Harbor Cinema after a devastating fire in December, a new study shows that not only does the theater have sentimental value — but a restored venue can mean a powerful injection of revenue into Sag Harbor's Main Street economy.

The economic output of a revitalized theater could be as much as $9.6 million per year, the study said.

This week, the Sag Harbor Partnership announced the results of an economic impact study on the Sag Harbor Cinema performed by HR&A Advisors, Inc., a consulting firm providing services in real estate, economic development program design and implementation.

“The acquisition and redevelopment of the Sag Harbor Cinema will result in an impact far greater than its investment. Reconstructing the Cinema will revitalize a blighted community asset, enhancing the theater’s infrastructure with a contemporary model that places arts and culture at the center of a year-round identity," the report said.

Benefits of reconstructing the beloved cinema include tax revenue, jobs, wages, and "economic output" – meaning the total value of, or aggregate spending on, goods or services across all industries, the report states.

“A new cinema will increase tax revenue and job creation. It will also sustain Sag Harbor’s brand as a cultural venue, enhancing its activity as a year-round cultural resource," John Alschuler, chairman of HR&A Advisors, Inc., said.

A new theater will also mean job creation, to the tune of 45 construction jobs over a year and 73 year-round and seasonal jobs at the cinema and other local businesses, the report estimates. Construction spending adds another $7.34 million in total economic output, experts added.

Nick Gazzolo, SHP’s president, said the organization was grateful to HR&A for lending expertise.

"People understand how dinner and a movie go together, but we needed an expert to tell us how much each movie ticket means to other businesses on Main Street," he said. "This study supports the idea that the Cinema project is an economic engine for all of our locally owned businesses. It also helps bring people to Sag Harbor all year long.”

A revitalized cinema arts center will complement Bay Street Theater, The John Jermain Library, Whaling Museum, and all the other cultural institutions that make Sag Harbor a thriving arts community, Lisa Field, president of the Sag Harbor Chamber Of Commerce, said.

Efforts to save the beloved Sag Harbor Cinema have been ongoing, with everyone from community members to A-list stars joining forces to help.

Beginning Monday, supporters now have the chance to bid on a wide array of once-in-a-lifetime prizes, with all proceeds to benefit the restoration of the theater, ravaged by fire in December.

Experiences to bid on include an English tea with Julie Andrews, a walk on role in a Martin Scorsese film, lunch with Morgan Spurlock, a private tennis lesson with John McEnroe and many more, as part of the Sag Harbor Cinema Restoration Project with eBay for Charity.

"Last winter when the community of Sag Harbor, NY lost their iconic, locally-owned Cinema to a devastating fire, many wondered if the beloved cultural pillar would ever reopen its doors. 100% of proceeds from this campaign will go to transforming the Cinema into a local cultural center showing movies, with a broader mission of supporting great film programming and visual art," organizers said.

A full list of the amazing experiences and items is included below. Please note, the auction goes live this evening at 7pm ET. The auction will run until August 28.

Patch courtesy photo.