Tuesday, December 11, 2012

Studies Show Economic Impact of Art Funding - by Florida Fine Art Blog

Studies Show Economic Impact of Art Funding

Today I have three great articles about the positive impact art funding has on South Florida.

The first one come from the Sun Sentinel and is an interview with Randy Cohen, vice president of research and policy for Americans for the Arts, a Washington, DC-based nonprofit.  Mr. Cohen was here to speak to over 150 business and community leaders about his organizations new report, "The Arts and Economic Prosperity IV report".  

The Arts and Economic Prosperity IV report is considered to be the most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted in the U.S. It was created by Americans for the Arts, the nation’s leading nonprofit organization for advancing the arts and arts education.

From the interview; "If you care about community and economic development, you can feel good about investing the arts. The arts are an industry, and not simply a luxury worth supporting in prosperous times but hard to justify when the economy is struggling. Right here in Broward County, the arts are a $230 million-per-year industry that supports 6,402 jobs and generates $22 million in local and state government revenue, our latest research shows. Nonprofit arts organizations in Broward spend $103 million per year on people, production and suppliers"

Sun Sentinel Article; "More arts, stronger economy, new research finds"
can be found here

The second one comes from the South Florida Business Journal.  This article talks about the same study but emphasizes the studies finding that arts and culture play an important role in attracting new businesses and workers to our community.  

From the article;  "Having a strong arts and culture community plays a very important role in our efforts to attract and grow companies in Broward County," said Bob Swindell, president and CEO of the Greater Fort Lauderdale Alliance. "Companies want to know that their employees will have a number of quality choices of cultural activities. Arts and culture in our community stands out as a real strength in our recruitment and retention efforts."

South Florida Business Journal;  "Broward arts groups contribute millions to economy" can be found here

The third article is about the positive impact Art Basel has on the surrounding counties and comes from SouthFlorida.com.  This story talks about the small but noticeable spill over into Broward Art Basel has caused.  And the need to further capitalize on the deluge of art lovers Art Basel brings into the area every December.

From the Article;  “Tourists definitely take advantage of Broward’s arts and culture when they fly in for Art Basel,” said Nikki Grossman, president of the Greater Fort Lauderdale Convention and Visitors Bureau. “There’s a small and even palpable bump -- about 1 percent increase -- in hotel bookings. But that’s a welcome bump for us. The Museum of Art Fort Lauderdale sees a foot-traffic spike and so do our restaurants and high-end hotels. Travelers want a broader experience out of Basel, and we give it.”

SouthFlorida.com;  "Art Basel casts its glow on Broward County" can be found here

The arts in Broward County, by the numbers

$230 million: economic impact in 2010
50 percent: growth in economic impact from 2005
$127 million: audience spending outside admission prices on meals, hotels, parking and more in 2010.
Source: Americans for the Arts, Broward County study released in 2012

No comments: