Item B: Arts & Economic Prosperity IV (AEP4)

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The Arts Mean Business By Robert L. Lynch, President and CEO, Americans for the Arts America's artists and arts organimtions live and work in every community from coast-to-coast— fueling creativity, beautifying € ur cities, and improving our quality of life. In my travels across the country, business and government leaders often talk to the about tine chal lenges of funding the arts amid shrinking resources and alongside other pressing needs. Thcy worry about jabs and the onomy. is their region a wagnet for attracting; an6 retaining, a skilled and innovative workforce? How well are they competing in the high - stapes race to attract new businesses? ne findi frorn .bards & Economic Prosperity IV send a clear® and welcome message: leaders who care about community and economic vitality can feel good about choosing to invest in the arts. Arts dt Economic Prosperild IV is our fourth study of the nonprofit arts and culture industry's impact on the economy. The most comp rehensiv+c study of its kind ever conducted, it features Cu5tOna findings on 182 study regions representing all 50 states and the Disirict of Columbia as well as estimates of economic impact nationally Despite the economic headwinds that our country faced in 2010, the results are impressive. Nationally, the industry generated $135.2 billion dollars ofeccnornic activity—S61 .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 fu l 1-time jobs. Our industry also gcneratcs $213 billion in revenue to local, state, and federal governments every year®a yield well beyond their crallective $4 billion in arts allucations. Arts and culture organizations are rresilient and entrepreneurial husinesses. They employ Tacople locally, pisi gcaods and services from within the cummunity, and market and promote their regions. Arts organizaatians are roofed locally; these are jobs that cannon he shipped overseas. Like most industries, the Great Recwssion. haft a measurable financial impact on the arts — erasing the gains made during the pre - recession years, and leaving 2010 expenditures three percent lsehind their 2005 levels. `rhe biggest effect of the recessiean was can attendance and audience spending. hievitabiy, as people lost jobs and worried about lasing their houses, arts attendance — like attendance to sports events and leisure travel — waned as we] 1. Yet, even in a down cc anomy, some communities saw an increases in their arts spending and employment. As the economy rebounds, the arts are well, poised for growth, They are already producing new and exciting work -- performances and exhibitions aaaei festivals that entertain, inspire, and attract audiences. Ans & E'cnnoorar'e Prosperity IV shoves tl t arts and culture organizations leverage additional event - related spending by their audiences that dumps revenue into the local economy, When patrons attend an arts event they may pay for harking, eat dinner at a restaurant, shop in local retail stores,, and have dessert on the way home, :Based on the 151,802 audience - intercept surveys conducted for this srudy, the typical arts attendee spends $24.60 per person, per event, beyond the cast oFadmission. Communities that draw cultural tourists experience an additional boost of economic activity. Tourism industry research has repeatedly demonstrated that arts tourists stay longer and spend more than the average traveler. r1nx & Pcon ain c Prosperity Ifs reflects those endings: 32 percent of attendees live outside the county in which the arxs event tarok placte, and their event-related spending is creme than twice that of their loml counterparts (nonlocal. $39.9+6 vs. local: $17.42 ). The message is (Jean a vibrant ands cumrnunity acct only keeps residents and their d.iscretiana.ry spending, close to home, it also attracts visitors who spend money and help local lausinesses, thrive. Aris & ,I;'rccar rock Praslrerily IV demonstrates that America's arts industry is not only resil lent in tunes of economic uncertainty, but is also a key compotient to our nation's economic recovery and future prosperity. Business and elected Leaders need not feel that a choice must be made between arts funding and economic ptvsperity� This study pruves that they can choose tooth. Nationally, as well as lncally, the arts mean business. +ts tr�4laorrirG f?r aria V I A Mevapans for aaie Aft