Nonprofit arts organizations return 5 to 1 investment on government allocations
The largest and most comprehensive study of its kind ever conducted by the Americans for the Arts found that the Arts and Cultural Industry generated $135.2 billion of economic activity. “Arts & Economic Prosperity IV reveals the vital role played by the nonprofit arts and culture industry in strengthening the nation’s economy,” said Americans for the Arts president and CEO Robert L. Lynch. “This study proves the arts are a key component of our nation’s economic recovery, future prosperity and an industry that supports jobs, generates significant government revenue, and sustains local businesses.”
At the AFTA convention last week the new Arts & Economic Prosperity IV Report was released and is now posted for access on the Americans for the Arts website. The Report is nationwide, but locally, The City of Atlanta Office of Cultural Affairs and the Athens Area Arts Council collaborated with AFTA and the study’s findings are eye-opening. For example, the City of Atlanta’s nonprofit arts and cultural organizations and their audiences direct spending generates $27,466,000 in state and local tax revenues! They support over 9,000 full-time equivalent jobs!
In the greater Athens area, Arts organizations support the equivalent of 352 full-time jobs and generate $981,000 in state and local taxes.
From the Release: “The largest and most comprehensive study of its kind ever conducted. Like the past three iterations, it documents the key role played by the nonprofit arts and culture industry in strengthening our nation’s economy. But this time around, the results of this study are a bit more extraordinary.
For the first time in its history, Arts & Economic Prosperity IV documents how the arts industry fared during a recession. And not just any economic lowdown.
This study shows how the arts sector fared during The Great Recession, the most shattering economic downfall our nation, and the world, has experienced in generations. And there is encouraging news to share.”
From the Report: “Nationally, the industry generated $135.2 billion of economic activity—$61.1 billion by the nation’s nonprofit arts and culture organizations in addition to $74.1 billion in event-related expenditures by their audiences. This economic activity supports 4.1 million full-time jobs. Our industry also generates $22.3 billion in revenue to local, state, and federal governments every year—a yield well beyond their collective $4 billion in arts allocations.
News Release:http://www.artsusa.org/news/afta_news/default.asp#item26
Download the Reports. (Included are the Brochure, the Summary Report and full National Report)
http://www.artsusa.org/information_services/research/services/economic_impact/iv/reports.asp
This message is distributed through the cooperation of the Georgia Arts Network, C-4 Atlanta and ArtsGeorgia.
Americans for the Arts News
www.artsusa.org
June 13, 2012
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Tags: economics, statistics · Posted in: All, Business
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