I agreed to join the center's executive board after serving as chair of the Florida Arts Council, which was created because our state government realized the cultural, educational and economic benefits derived from strong arts programming and facilities. This project fully represents this awareness.
The project's funding needs further clarification: Funding has remained consistent in its sources and amounts since 2007, when Orlando and Orange County enacted the interlocal agreement with the center in order to set long-term guidelines. Almost three years after the agreement was finalized, the Dr. Phillips Center has not asked for additional revenue from Orlando or Orange County beyond the funding identified in the agreement.
The project has garnered immense support from the community, having already far exceeded its original philanthropic goals with more than $88 million raised to date. We will continue our commitment to raising funds for our capital campaign and endowment. We have approached development of the project realistically and responsibly. As a response to the economic downturn and its effect on the tourist development taxes, we decided to stage our construction in order to make use of the funding we currently have.
Other important facets of this project are: its ability to serve as a catalyst for urban revitalization; its advancement of underprivileged communities through our Blueprint initiatives; its ability to provide world-class facilities for our resident arts groups; and the mission to embrace the entire community through arts and arts education. This is punctuated by the fact that this entire project will have an estimated economic impact of $240 million and create more than 4,000 jobs from conception to construction through the first year of operations.
On Wednesday, the Dr. Phillips Center hosted its first Center Stage Presentation, designed to update the community on its status. This is the first of many to occur.
The arts sector is one of our country's most misunderstood industries. While most regard its cultural enrichment, many lose sight of the other ways it delivers impact. The scope and impact of the Dr. Phillips Center prove it's a project worth pursuing. While times are, indeed, difficult, this country has a history of bold projects being built during challenging times — projects like the Empire State Building, constructed during the Great Depression.
We are committed to bringing our arts community and our local citizens the performing-arts center they want, deserve and will benefit from. We are on the brink of something monumental with this project.
Sibille Pritchard of Oviedo is a member of the Dr. Phillips Center for the Performing Arts executive board committee and board president of the Orlando Ballet.