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July 5, 2007
Art as economic development
Americans for the Art has published its latest survey - Arts & Economic Prosperity III: The Economic Impact of Nonprofit Arts and Culture Organizations and Their Audiences:
Nationally, the nonprofit arts and culture industry generates $166.2 billion in economic activity every year—$63.1 billion in spending by organizations and an additional $103.1 billion in event-related spending by their audiences. The study is the most comprehensive study of the nonprofit arts and culture industry ever conducted. It documents the economic impact of the nonprofit arts and culture industry in 156 communities and regions (116 cities and counties, 35 multicounty regions, and five states), and represents all 50 states and the District of Columbia.The $166.2 billion in total economic activity has a significant national impact, generating the following:
• 5.7 million full-time equivalent jobs
• $104.2 billion in household income
• $7.9 billion in local government tax revenues
• $9.1 billion in state government tax revenues
• $12.6 billion in federal income tax revenues
Not covered in the report is the indirect effect of the arts -- as collaborators with other activities such as design and entertainment and as a source of creative training that benefits all sectors of the economy. The I-Cubed Economy is multifaceted -- and our policymakers need to remember the contributions from every sector, including the arts.
To read about the specific impact on three specific communities, see:
Arts return economic favor to supportive city- Ft. Collins, CO.:
Study shows economic power of the arts - Santa Cruz
Culture is economic development - Cedar Rapids
Thanks to our friends over at EDPro Weblog: Economic Development for Today's Professionals for pointing this out.
Posted by Ken Jarboe at July 5, 2007 8:55 AM
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