Impact of the Arts on American Ecomony
Did you know that the arts play a fundamental role in the American economy?
The Arts & Economic Prosperity III study, released in 2007, indicates that nonprofit arts organizations and their audiences generate $166.2 billion in economic activity every year; support 5.7 million jobs; and return nearly $30 billion in local, state, and federal government revenue every year.
“The financial lifeblood of the arts in America goes well beyond earned income and must include the support of the private and public sectors. The support infrastructure of the arts sector is a fragile ecosystem, a balance between three sources of support: corporate funding, foundation and government assistance, and earned income. Americans for the Arts nurtures partnerships designed to build bridges to the arts from the public and private sectors, engaging more and more leaders in the arts and arts education.” Source: Americans for the Arts
Did you know that nonprofit arts and culture are economically sound investments?
From major metropolitan areas to small rural towns, this research shows that the nonprofit arts and culture industry is an economically sound investment. It attracts audiences, spurs business development, supports jobs, and generates government revenue. Locally as well as nationally, the arts mean business. Source: The Arts & Economic Prosperity III study, conducted by Americans for the Arts, documents the economic impact of the nonprofit arts and culture industry in 156 communities and regions representing all 50 states and the District of Columbia.
For more information on the Arts & Economic Prosperity III study, including information on downloading and purchasing all study reports, please visit AmericansForTheArts.