The Arts Mean Business: Arts & Economic Prosperity
07.02.2007National study reveals the arts generate $166 billion in economic activity.
Washington, D.C. — Americans for the Arts has announced the results of the most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted in the United States. The Arts & Economic Prosperity III report reveals that the nonprofit arts industry generates $166.2 billion in economic activity every year, resulting in $29.6 billion in federal, state, and local tax revenues.
The nation's nonprofit arts and culture industry has grown steadily since the first analysis by Americans for the Arts in 1992, expanding at a rate greater than inflation. Between the second study conducted in 2000 and 2005, spending by organizations and their audiences grew 24 percent, from $134 billion to $166.2 billion in total economic activity-$63.1 billion in spending by organizations and an additional $103.1 billion in event-related spending by their audiences.
The total economic activity has a significant national impact, generating the following:
* 5.7 million full-time equivalent jobs
* $104.2 billion in resident household income
* $7.9 billion in local government tax revenues
* $9.1 billion in state government tax revenues
* $12.6 billion in federal government tax revenues
For more information about the study's national results, visit
http://www.americansforthearts.org/information_resources/
press/2007/2007_05_21.asp
To learn more about Arts & Economic Prosperity III, visit http://www.AmericansForTheArts.org/EconomicImpact.
