Arts & Economic Prosperity 5 Study

ArtsGreensboro Joins Americans for the Arts’ National Study of the Economic Impact of Spending by Nonprofit Arts and Culture Organizations and Audiences

“Arts & Economic Prosperity 5” study will provide valuable information for both economic development efforts and arts funders

“The Arts Mean Business.” That’s the message shared by ArtsGreensboro today, as it announced its participation in Arts & Economic Prosperity® 5, a national study measuring the economic impact of nonprofit arts and culture organizations and their audiences. Conducted by Americans for the Arts, the nation’s nonprofit organization advancing the arts and arts education, this 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 for local and state governments. As one of nearly 300 study partners across all 50 states plus the District of Columbia, ArtsGreensboro will collect detailed financial data about local nonprofit arts and culture organizations, including theater and dance companies, music-focused organizations, visual arts groups, museums, festivals, and arts-education organizations. ArtsGreensboro will also collect surveys from attendees at arts events to ascertain how much money they spent on meals, parking, transportation, and retail shopping in connection with the event. Previous studies have shown that the average arts attendee spends $24.60 per person, per event, over and above the cost of admission. Furthermore, those studies have shown that, on average, 32 percent of arts attendees travel from outside the county in which an event takes place; those “cultural tourists” typically spend nearly $40 per person above the admission price—generating revenue for local businesses and demonstrating how the arts drive revenues for a wide range of businesses. “When ArtsGreensboro participated in the last edition of this study—Arts & Economic Prosperity 4, which was published in 2012—people across our community came to realize that the arts were a formidable local industry,” said ArtsGreensboro President and CEO Tom Philion. “At that time, the arts sector in Guilford County was a Top 10 employer and accounted for over $118 million in economic impact annually. We look forward to understanding what today’s stronger economy means for the arts community.” ArtsGreensboro will collect surveys throughout calendar year 2016. The results of Arts & Economic Prosperity 5 will be released by American for the Arts in June 2017.