Sunday, April 15, 2007

Nonprofit Arts and Economic Prosperity

First released in 1994 and updated in 2002, Arts & Economic Prosperity II reveals that America's nonprofit arts industry generates $134 billion in economic activity every year, including $24.4 billion in federal, state, and local tax revenues. The $134 billion total includes $53.2 billion in spending by arts organizations and $80.8 billion in event-related spending by arts audiences: -The $53.2 billion represents a 45 percent increase (from $36.8 billion) since 1992, when Americans for the Arts last studied spending by arts organizations.
-The $80.8 billion in event-related spending by arts audiences reflects an average of $22.87 per person in spending for hotels, restaurants, parking, souvenirs, refreshments, or other similar costs—with nonlocal attendees spending nearly twice as much as local attendees ($38.05 compared to $21.75).
-The $134 billion in total economic activity has a significant national impact, generating the following:
-4.85 million full-time equivalent jobs
-$89.4 billion in household income
-$6.6 billion in local government tax revenues
-$7.3 billion in state government tax revenues
-$10.5 billion in Federal income tax revenues
Arts & Economic Prosperity II is based on surveys of 3,000 nonprofit arts organizations and more than 40,000 attendees at arts events in 91 cities in 33 states, plus the District of Columbia.
Note: Arts and Economic Prosperity III will be released May 2007.
Source: Americans for the Arts

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