Topic: Creative Economies: Economic Impact
Arts and culture programs contribute significantly to local economic development. From the production of cultural goods to the attraction of a creative workforce, the economic impact of the arts has a huge role in contributing to the vitality of a community. Between 2000 and 2005, the nonprofit arts and culture industry grew 24 percent, from $134 billion to $166.2 billion. Spending by organizations grew to $63.1 billion in 2005, up 19 percent from $53.2 billion in 2000. Event-related spending by their audiences boasts an even greater increase—from $80.8 billion in 2000 to $103.1 billion in 2005 (28 percent).
According to our 2008 study, America’s 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 audiences. The national impact of this activity is significant, supporting 5.7 million jobs and generating $29.6 billion in government revenue.
- Creative Economies
- Americans for the Arts Monograph: Building Creative Economies: The Arts, Entrepreneurship, and Sustainable Development