KidSTREAM to Make Lasting Positive Social and Economic Impact on Community, Study Says

KidSTREAM, an emerging children’s museum based in Camarillo, recently released the findings of two published studies that assessed needs and measured the expected economic and social impacts that would be created by the museum when in full operation. The studies also evaluated the museum’s market and operating potential.

 According to one study, the museum will not only enrich the lives of many of the county’s residents, especially those with young children, but it will boost the local economy with the addition of new jobs and tax revenues.

“KidSTREAM presents the Ventura County region with the opportunity to make sizable gains in job creation, tax revenue, workforce development, social equity and educational attainment,” said Jamshid Damooei, principal at Damooei Global Research and chair of California Lutheran University’s School of Business, Department of Economics, Finance and Accounting, who authored the study on economic and social impacts.

In the study, Damooei estimates that the capital expenditures by kidSTREAM during the first three years will create more than 53 jobs in the region, mostly in construction sector, which are relatively good paying jobs. In addition, the capital expenditures will result in a total tax revenue of $455,513 for the state and local government. He also predicts that capital expenditures will result in approximately $1,282,876 annually in overall tax revenue for all levels of government.

Beyond monetary measures, Damooei notes that a body of research indicates a number of other positive impacts that would result from the opening of kidSTREAM, including improved learning by special education and English learner students, increased student interest in academics and the building of more social equity in the community and among children.

In another study exploring market potential, management and economics, ConsultEcon, Inc. found among other things, that tourism is a major sector in the region’s economy. “Given the context of local tourist attractions, kidSTREAM has the potential to bring significant additional tourism activity to Camarillo and Ventura County as a whole,” the study states.

The ConsultEcon, Inc. report also looked at where kidSTREAM is anticipated to be located within the county. “The proposed kidSTREAM would offer an easily-accessed, centrally-located, informal education resource for the City of Camarillo, as well as Ventura County as a whole, becoming a regional attraction…As proposed, it would create a highly valued and well used community asset,” the report stated.

“With the information gained from both of these studies, we are able to go back to our board and strategize using insights we’ve gained as we plan and develop programming and the facility itself,” said kidSTREAM Board President Kristie Akl.

The Economic and Social Impact study was funded by the William A. and Cynthia D. Fairburn, Jr. Memorial Fund through the Ventura County Community Foundation. Both complete studies can be found on the kidSTREAM website at www.kidstream.org.

KidSTREAM currently delivers programming on location at partner organizations, focused on STREAM: science, technology, reading, engineering, arts and math. Programs have included a flight lab at the Wings Over Camarillo Airshow, making glasses for safe viewing of the last solar eclipse, art workshops in partnership with Studio Channel Islands, and a STEM carnival in partnership with California State University, Channel Islands.

KidSTREAM leaders are also working with a team of advisory board members, museum designers and consultants to develop a destination-worthy facility proposed for the former site of the Camarillo Library, with an anticipated 12,000 square feet of indoor, interactive hands-on learning exhibits, and 19,000 square feet of outdoor exhibits and playscapes.

A 501(c)3 nonprofit organization founded in 2016, kidSTREAM’s mission is to create an engaging environment for children and families to explore, play and discover; inspiring them to become critical thinkers, innovators and life-long learners. For more information, visit http://www.kidstream.org/.


 

KidSTREAM

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