Maryland’s nonprofit arts sector has a $1.07 billion impact on the state’s economy, according to a report released by the Maryland State Arts Council (MSAC). The Economic Impact of the Arts in Maryland: FY 2012 report details how spending by the MSAC’s 244 grantee arts organizations and their audiences ripples through Maryland’s economy, creating and retaining jobs and generating revenues for businesses, families and state and local governments.
The benefits of Maryland’s vibrant nonprofit arts industry are felt widely. According to the report, the cultural sector generates 12,700 full-time equivalent jobs that return $426.5 million in salaries to local residents. Local business owners and workers are not the only ones to benefit; nonprofit arts generate $47.9 million in tax revenues for Maryland’s state and local governments. And, every $1 of the arts organizations’ operating budgets generates an additional $3.60 in total economic activity.
Statistics for the study were drawn from 241 Maryland organizations that produce or present the arts around the State, and receive grants from the Maryland State Arts Council for ongoing support of their operations and programs. Data was collected utilizing the Maryland Cultural Data Project.
Click here for a visual representation of the report’s findings.
Click here to download the full report.