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Item B: Arts & Economic Prosperity IV (AEP4)
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Item B: Arts & Economic Prosperity IV (AEP4)
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2/27/2013
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The Economic Impact of the <br />Nonprofit arts and Culture industry <br />in the City of wwn ,O <br />Arts car Economic Prosperity lV provides compelling new evidence that the nonprofit <br />arts and culture are a significant industry in the City of Eugene βone that generates <br />$45.6 million in total economic activity. This spending β$29.5 million by nonprofit <br />arts and eulture organizations and an additional $16.1 million in event - related <br />spending by their audiences β supports 1,739 full -time equivalent jabs, generates <br />$34.8 million in household income to local residents, and delivers $2.4 million in. <br />local and state government revenue. This economic impact study sends a strong <br />signal that when we support the arts, we not only enhance our quality of life, but we <br />also invest in the City of Eugene's economic well - being. <br />The City of Eugene is one of 182 study mgions that <br />participated in parts dl: Economic Prosperity 1V, the <br />most comprehensive study of its kind ever conducted. <br />It documents. the economic impact of the nonprofit arts <br />and CUItuPe sector in 139 cities and counties, 31 multi - <br />city or multi - county regions, 10 states, and two <br />individual arts districts β representing; all 50 U.S. states <br />and the District of Columbia. The divers: study regions <br />range in population (1,600 to four million) and type <br />(rural to large urban). Project economists customized <br />input - output analysis 9nodels to calculate specific and <br />reliable findings for each study region. This study <br />focuses solely on the economic impact of nonprofit arts <br />and culture organizations and event - related spending <br />by their audiences. Spending by individual artists and <br />the for -profit arts and culture sector (e.g,., Broadway or <br />the motion picture industry) are exclrx evd from this <br />study. Fer the purpose of this study, the geographic <br />area included in this analysis is defined as the City of <br />Eugene, <br />Defining Economic Impact <br />This proprietEny Atudy uses four economic measures [o <br />define economic impact; full -time equivalent jobs, resident <br />household income, and local and state government <br />revenues. <br />(1) Full-Time Equivalent {TTE} Jobs describes the total <br />amountof labor employed. E3cionomists mcasure I±TE.jobs, <br />not the total number ofemployees, because it is a more <br />accurate measure that accounts for pail -time. employment. <br />(2) Resident Household Income (often called Personal <br />Income) includes salaries, wages, and entrepreneurial <br />income paid to local residents, It is the money residents earn <br />and use to pay for Food, mortgages, and other living <br />expenses. <br />Revenue to (3) Local and (4) State Government includes <br />revcnuc from lccal and state taxes (e.g,, income, property, <br />sales, and lodging) as well as funds from license fees, utility <br />fees, filing fees, and other similar sources. <br />Arts & Economic Prosperily IV I Americans Mr the Arts 3 <br />
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