The arts are a $135 billion national industry. That’s one of the findings in a report released by Americans for the Arts which examined the national economic impact of nonprofit arts and cultural organizations. Arts & Economic Prosperity IV looked at data from all 50 states and the District of Columbia and included research from the Cultural Data Project. The report discovered that the industry supports 4.1 million full-time jobs and generates $22.3 billion in revenue to local, state, and federal governments each year.
The report also uncovered the peripheral benefits to the local economy: attendees to arts and cultural events spend money at local businesses surrounding the event (such as restaurants, parking garages, retail stores, hotels, etc) and spend an average of $26.60 on top of the event’s admission cost.
From the report:
“Arts & Economic Prosperity IV demonstrates that America’s arts industry is not only resilient in times of economic uncertainty, but is also a key component to our nation’s economic recovery and future prosperity. Business and elected leaders need not feel that a choice must be made between arts funding and economic prosperity. This study proves that they can choose both.”
View the report here.