News

Arts and business news from around the country.

RSS

The Arts Mean Business: Interpreting Arts & Economic Prosperity IV

Posted by Marisa Muller
0 Comments

 

 

 

During the Arts & Economic Prosperity IV launch last Friday, Randy Cohen announced the findings of American’s for the Arts fourth economic impact study of the nonprofit arts and culture organizations and their audiences. As the most comprehensive study of its kind ever conducted, Arts & Economic Prosperity IVdocuments the quantifiable economic impact of 9,721 nonprofit arts and culture organizations and 151,802 of their attendees in 182 study regions, representing all 50 states and the District of Columbia.

 

In revealing the results of this extremely thorough study, Randy stated, “The arts mean business,” and he could not have been more on target. According to Arts & Economic Prosperity IV, the nonprofit arts and culture industry generates $135.2 billion of economic activity, which breaks down to $61.1 billion in spending by nonprofit arts and culture organizations, plus an additional $74.1 billion in event related spending. In addition to generating economic activity, the arts and culture industry also supports 4.1 million jobs and generates $22.3 billion in government revenue.

 

Arts & Economic Prosperity IV also showed that arts audience members spent on average $24.60 per person, per event, beyond the cost of admission in 2010. Additionally, the data revealed that arts tourists stay longer and spend more than the average traveler. Among those audience members surveyed, 32 percent live outside the county in which the art event took place and their event- related spending is more than twice that of their local counterparts ($39.96 vs. $17.42).

 

Even in the face of the recession, Arts & Economic Prosperity IV revealed that the arts have remained resilient. The 2010 expenditures by arts organizations were just three percent behind their 2005 levels ($61.1 billion vs. $63.1 billion). Although there was an 11 percent drop in spending by the typical arts patron from 2005 to 2010, it is still evident that communities that draw cultural tourists experience an additional boost of economic activity that continues to fuel local economic engines.

 

“As all budgets—local and national, public and private—continue to reel from the effects of the economic downturn, some may perceive the arts as an unaffordable luxury reserved for only the most prosperous times,” says Jonathan Spector, President & CEO of The Conference Board. “Fortunately, this rigorous report offers evidence that the nonprofit arts industry provides not just cultural benefits to our communities, but also makes significant positive economic contributions to the nation’s financial well being regardless of the overall state of the economy. This certainly is something to applaud.”

 

By focusing on the quantitative economic impact of the arts, Arts & Economic Prosperity IV elucidates the connection between the arts and the economy and validates the arts as a resilient industry with cultural and economic benefits.

 

"Many businesses support the arts across the country because they intuitively understand that the arts matter,” says Stephen Jordan, Executive Director of the Business Civic Leadership Center, U.S. Chamber of Commerce. “It is great to get the facts and a clearer understanding of the links between the arts and economic prosperity."

 

This study compels nonprofits, businesses, and government officials to consider the arts and culture industry as a job creator and an economic stimulator.  By prompting a reevaluation of the arts, Arts & Economic Prosperity IV can be an extremely useful tool in attracting arts advocates and developing stronger, more meaningful partnerships across sectors.

 

Janet Brown, the Executive Director of Grantmakers in the Arts notes, “Americans for the Arts continues to develop the tools for arts advocates and the evidence to persuade decision-makers that the arts benefit all people in all communities.”
 

For more information on Arts & Economic Prosperity IV, including information on downloading and purchasing all study reports, please visit www.AmericansForTheArts.org/EconomicImpact.

Related
Comments
blog comments powered by Disqus

More News

On the "Streets of Bakersfield," Buses are Works of Art
Aug 16, 2018 0 Comments
Golden Empire Transit (GET), based in Bakersfield, CA, has been serving city for over forty years. As the mass transit operator in town, they play an integral role in the city’s infrastructure and economy, and have used this...
Go to full post
Oath Foundation and Gucci Tribeca Documentary Fund
Aug 08, 2018 0 Comments
Oath Foundation, funded by Oath, is partnering with Tribeca Film Institute to support documentaries focused on social issues. In collaboration with the Gucci Tribeca Documentary Fund, they provide documentaries in post-production...
Go to full post
PNC Keeping Arts Alive in its Communities
Aug 03, 2018 0 Comments
BCA 10 Honoree PNC continues to use the arts to bring its communities together. Through PNC Arts Alive, the company’s foundation is supporting access to arts experiences through affordable pricing, mobile studios, sensory friendly...
Go to full post
Seattle Boasts Shepard Fairey Mural at 9th and Thomas
Jul 30, 2018 0 Comments
When Scott Redman, CEO of Sellen Construction, was in the process of developing his first building, of the many the company has built, he wanted the arts to play an integral role. In an interview with The Seattle Times, he said...
Go to full post
Serena Williams x Allstate Foundation Purple Purse
Jul 26, 2018 0 Comments
Tennis all-star Serena Williams teamed up with Allstate Foundation Purple Purse and artists, including Isabel Castillo Guijarro to raise awareness about domestic violence. Together, they unveiled a street art campaign that will...
Go to full post
The Art of Ending Stigma
Jul 19, 2018 0 Comments
2016 BCA Honoree Johnson & Johnson is continuing to use the arts for health with the new campaign Art of Ending Stigma. Their company Janssen Pharmaceutical Cos. Is partnering with Mental Health America, OneMind, PeaceLove, and...
Go to full post
Seeing High Seas: Art + Tech in Times Square
Jul 13, 2018 0 Comments
For tech giant Microsoft, partnering with the arts is nothing new. Since their BCA 10 honor in 2013, they have continued to collaborate with artists, including Mel Chin. The Queens Museum and No Longer Empty are hosting his exhibit...
Go to full post
Cool Globes in a Pittsburgh Summer
Jul 12, 2018 0 Comments
Since 2006, Cool Globes: Hot Ideas for a Cooler Planet, an offshoot of a commitment at the Clinton Global Initiative, has placed globes around the world to combat climate change. Using public art, Cool Globes has brought messages...
Go to full post
Museum and Hospital Partner for Art and Medicine
Jul 06, 2018 0 Comments
Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99;...
Go to full post
BOARDway Bound with ArtsWave
Jul 03, 2018 0 Comments
Normal 0 false false false EN-US X-NONE X-NONE /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99;...
Go to full post
United States Conference of Mayors Approves Arts-related Resolutions
Jun 21, 2018 0 Comments
From June 8-11, mayors from across the nation convened in Boston for the annual meeting of the United States Conference of Mayors (USCM). Among other resolutions related to Arts and Culture Funding and the recognition of Arts...
Go to full post
IKEA Partners with Artisan Refugees for New Line
Jun 20, 2018 0 Comments
IKEA announced that its Brooklyn store will have a new, exclusive line, created by Jordanian women and Syrian refugee artisans. In partnership with the Jordan River Foundation, it created the line TILLTALANDE, which features...
Go to full post
PurePoint Financial Offices Display Local Artists
Jun 19, 2018 0 Comments
PurePoint Financial is a hybrid digital bank that launched in February 2017. Although it has only been around for a year and a half, it is already into its second art exhibit at its flagship Park Avenue location. With the aim...
Go to full post
JetBlue Showing #NonstopPride
Jun 14, 2018 0 Comments
JetBlue is New York’s Hometown Airline. With a strong New York representation amongst staff and with one of the leading resource groups for LGBT workplaces, JetPride, it was an easy connection for the airline to partner with...
Go to full post

Already a partner?

Already a partner?

Learn easy ways to take your partnership to a new level.

Use our ads locally

Use our ads locally

View The pARTnership Movement ad campaign and find ways to use the ads.

pARTnership videos

pARTnership videos

Watch and share our videos from The pARTnership Movement.

Partnership ideas

Partnership ideas

Inspire employees with tickets to the ballet or a concert.

Are you an arts group?

Are you an arts group?

Get listed in our searchable directory.

Recruit talent

Recruit talent

Employees want to live and work in a vibrant community.