Study: Arts & culture industry adds big bucks to Char-Meck economy
How much is the nonprofit arts and culture industry worth to Charlotte-Mecklenburg’s economy?
About $202.8 million, according to a study released June 23 by the Americans for the Arts, a nonprofit group that advocates for arts and arts education.
In its Arts & Economic Prosperity IV national economic impact study, the groups also found that the local nonprofit arts community supports 6,240 full-time equivalent jobs.
In releasing the report last week, the Arts and Science Council (ASC) call it “the most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted in the United States.”
“This study validates the cultural sector and its role as a key driver in growing the local economy,” said ASC President Scott Provancher. “The results show than an investment in the arts is an investment in jobs, increased government revenue and tourism.”
According to the study, nonprofit arts and culture organizations spent just shy of $101.2 million during fiscal year 2010. Those dollars, in turn, generated $91.9 in household income for local residents and $18.1 million in local and state government revenues.
Nationally, the study reveals that the nonprofit arts industry produced $135.2 billion in economic activity during 2010. This spending—$61.1 billion by nonprofit arts and culture organizations plus an additional $74.1 billion by their audiences—supported 4.1 million full-time equivalent jobs and generated $22.3 billion in federal, state and local tax revenues.
In addition to spending by organizations, the study estimated that the nonprofit arts and culture industry leverages $101.6 million in event-related spending by its audiences, mainly in the form of meals, parking, transportation, gifts and souvenirs, hotels stays, paying babysitters, etc.
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