Supporting public art and a vibrant cultural community beautifies and animates cities, provides employment, attracts residents and tourists, complements adjacent businesses, enhances property values, expands the tax base, attracts educated employees, and contributes to a culturally diverse, creative and innovative environment. Community support through corporate sponsorship, government assistance and private contributions allow the Downtown Arts District to provide promotional and financial assistance to art and cultural venues and events enhancing Downtown’s uniqueness as a destination for local residents and cultural tourism. The arts and cultural communities that encompass the Downtown Arts District enrich our community in many ways—by greatly improving the quality of life, strongly impacting economic development, deepening our understanding of cultural diversity, and providing healing in times of great stress and hardship. The arts also create a healthier corporate climate, and play a key role in workforce development and employee attraction and retention.
Did you know that the arts encompass an industry that stimulates the economy in communities across the country? The Arts & Economic Prosperity III study prepared for Americans for the Arts, reports that nationally, nonprofit arts organizations and their audiences generate $166.2 billion in economic activity, support 5.7 million jobs, and return nearly $30 billion in government revenue every year. The study also reveals that for every $1 billion in spending by these groups and their audiences, results in almost 70,000 full-time-equivalent jobs.
Arts and cultural nonprofits are also a significant industry in the Central Florida Region—one that generates $165.31 million in local economic activity. This spending–$77.63 million by nonprofit arts and culture organizations and an additional $87.68 million in event related spending by their audiences—supports 5,661 full-time equivalent jobs, generates $111.72 million in household income to local residents, and delivers $20.69 million in local and state government revenue.
This research sends a strong signal that when we support the arts, we not only enhance our quality of life, but we also invest in the Central Florida Region’s economic well-being.
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