The Arts Mean Business. That is the message being delivered today by ArtsBuild, who announced it has joined the Arts & Economic Prosperity® 5, a national study measuring the economic impact of nonprofit arts and culture organizations and their audiences. The research study is being conducted by Americans for the Arts, the nation’s nonprofit organization advancing the arts and arts education. It is the fifth study over the past 20 years to measure the impact of arts spending on local jobs, income paid to local residents, and revenue generated to local and state governments.
ArtsBuild will host an informational session about the study on Tuesday, February 23 at 5:30pm at The Arts Building, 301 E. 11th Street. The session will include details about the national project and the community’s role in helping to collect audience and organizational data that will be used to determine the economic impact of the arts in greater Chattanooga.
Nonprofit arts and cultural organizations that are interested in being involved in the Arts & Economic Prosperity® 5 report or anyone who would like more information about the project are encouraged to attend. Reservations for the session are encouraged: http://artsmeanbusiness.eventbrite.com.
As one of nearly 300 study partners across all 50 states plus the District of Columbia, ArtsBuild will collect detailed financial data about our local nonprofit arts and culture organizations such as our theater and dance companies, museums, festivals, and arts education organizations.
“Many people don’t think of nonprofit arts organizations as businesses,” said Keith Sanford, President of First Tennessee Bank, “but this study will make clear that the arts are a formidable industry in our community—employing people locally, purchasing goods and services from local merchants, and helping to drive tourism and economic development.”
ArtsBuild will also collect surveys from attendees at arts events using a short, anonymous questionnaire that asks how much money they spent on items such as meals, parking and transportation, and retail shopping specifically as a result of attending the event. Previous studies have shown that the average attendee spends $24.60 per person, per event, beyond the cost of admission. Those studies have also shown that, on average, 32 percent of arts attendees travel from outside the county in which the arts event took place, and that those cultural tourists typically spend nearly $40 per person—generating important revenue for local businesses and demonstrating how the arts drive revenue for other businesses in the community.
Surveys will be collected throughout calendar year 2016. The results of the study will be released in June of 2017.
“We have heard from communities across the state on the impact of arts and culture,” says TN Arts Commission Executive Director Anne B. Pope, “and with this being the first statewide and largest endeavor of its kind in Tennessee, we anticipate this study will provide important data on how the arts and culture positively affect economic development, tourism and quality of life. This study will show that when we support the arts in Hamilton County, we are making an investment in an industry, one that supports jobs and generates government revenue, and is the cornerstone of tourism.”
According to Americans for the Arts’ most recent national study, the nonprofit arts industry generated $135.2 billion in total economic activity and supported 4.1 million full-time equivalent jobs during 2010, resulting in $22.3 billion in federal, state and local government revenues. The $135.2 billion total included $61.1 billion in spending by arts organizations and $74.1 billion in event-related spending by their audiences on items such as meals, local transportation and overnight lodging. Complete details about the fiscal year 2010 study are available at www.AmericansForTheArts.org/EconomicImpact.
“Our Arts & Economic Prosperity series demonstrates that the arts are an economic and employment powerhouse both locally and across the nation,” said Robert L. Lynch, president and CEO of Americans for the Arts. “Leaders who care about community and economic vitality can feel good about choosing to invest in the arts. Nationally as well as locally, the arts mean business.”
Americans for the Arts’ Arts & Economic Prosperity 5 study is supported by The Ruth Lilly Fund of Americans for the Arts. In addition, Americans for the Arts’ local and statewide study partners are contributing both time and a cost-sharing fee support to the study. For a full list of the nearly 300 Arts & Economic Prosperity 5 study partners, visit www.AmericansForTheArts.org/AEP5Partners.