The Austin City Limits Music Festival contributed $264.6 million to the city's economy in 2018, according to figures released Monday by the festival's organizers.
That's an increase of $10 million, or 3.8 percent, over the economic impact of the 2017 festival, according to ACL Fest data.
"The Austin City Limits Music Festival is a world-renowned event," Austin Mayor Steve Adler said in a news conference Monday at Edward Rendon Metro Park. "This festival continues to be a major contributor to our economy."
Since 2006, the festival has generated nearly $2 billion for Austin's economy, the equivalent of creating or retaining 21,500 jobs for Austin employees, according to the report.
.@MayorAdler says good things happen when private entities, corporations, businesses pitch in to improve the city.
“The Austin City Limits music festival is a world renowned event,” Adler says. “This festival continues to be a major contributor to our economy.”pic.twitter.com/2I13HDITrs
The annual report -- put together by Austin-based by Angelou Economics and paid for by ACL Fest -- found that bars and restaurants felt the biggest economic impact with $56 million. Hotels received a $32.3 million economic impact, followed by the real estate sector with $15.3 million.
Bars and restaurants saw 1,093 jobs created or sustained through the festival, according to the report. That number was 256 jobs for hotels and 190 jobs for ground transportation companies, according to the report.
Also Monday, C3 Presents, the company that puts on ACL Fest each year, gave the Austin Parks Foundation a $5.1 million check to go toward future park improvements across Austin. A portion of every ACL ticket goes toward Austin parks each year.
Council Members Leslie Pool, Paige Ellis, Kathie Tovo and Alison Alter outlined various park improvements in their districts that will move forward with the help of the donation.
Tovo said the Alliance Children's Garden in her district will benefit from the funds. The city broke ground on the garden within Butler Park in March.
"It is really going to help us live out our vision of becoming the most family friendly city in the nation," Tovo said. "We need those places to recreate and gather as a community. I'm really excited that the Alliance Children's Garden is a beneficiary of these funds."
The full lineup for ACL will be released Tuesday, although festival organizers have revealed a handful of artists playing at the festival through its Magic Eye puzzle. Childish Gambino, Kacey Musgraves and Gary Clark Jr. are among the artists who have been confirmed.
READ MORE: Who will play ACL Fest 2019? Paul Simon? James Blake? Billie Eilish?
This year's ACL Fest is scheduled for Oct. 4-6 and Oct. 11-13.