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Art paves the way for economic prosperity

Randy Cohen and Emily Peck on Thursday, September 28, 2017 at 8:30:00 am 

New research reminds us that supporting the arts and culture sector accelerates local economic development and creates vibrant communities.

Eighty-two percent of Americans believe that the arts add value to the economy and local businesses, according to an Americans for the Arts poll. Another survey by the Conference Board and Americans for the Arts reports that 67 percent of businesses support the arts because of their economic impact.82 percent of Americans believe that the arts add value to the economy and local businesses, according to an Americans for the Arts poll.

People and businesses agree: creating a strong and vibrant arts community isn’t just nice, it makes economic sense. Simply put, arts and cultural organizations are businesses that invest in communities and grow economies.

A recent report published by Americans for the Arts explains the importance of arts and culture to commerce. For the report, titled Arts & Economic Prosperity 5 Report (AEP5), researchers collected and analyzed data from nearly 15,000 organizations and more than 212,000 patrons to measure industry spending.

Typical attendees to an arts-focused event spend more than $31 each, not including admission costs. Collectively, consumption by those audiences sends more than $100 billion each year to local businesses in the United States. The economic impact is significant: supporting the arts means supporting 4.6 million jobs and generating $27.5 billion in government revenue, while also benefiting many business segments within a community.

Many arts supporters travel far and wide to attend performances, events and exhibits. In fact, 34 percent of said attendees live outside the county in which the event takes place. And 69 percent of these non-local attendees said their primary purpose for visiting a community was specifically to attend this arts/cultural event. When asked what they would be doing if the event being attended wasn’t taking place, 41 percent of local arts supporters said they would have traveled to another community for a similar type of event.

Perhaps what’s more astounding is that non-local attendees spend twice as much — $47.57 compared to $23.44 — as attendees from the local community. In short, that means opportunities are endless for local businesses to market a wider variety of goods and services to visiting arts supporters. When these events take place, restaurants see more customers, hotels have more visitors and retail stores have more foot traffic.

While typical non-local attendees spend almost $50 per event (not including admission costs) on average, visitors who book hotel rooms or reserve other accommodations for lodging spend more than $160 each, on average.

While supporting arts and culture, audiences also support local eateries of every variety, from fine dining restaurants to food trucks. About 54 cents of every dollar spent goes to culinary experiences.

And like hotels and restaurants, retailers benefit, too. From the purchase of gifts to souvenirs, one-fifth of every dollar spent by arts supporters goes to the local retail sector.

Transportation-related expenses account for $.10 of every dollar spent by arts supporters. This includes spending on mass transit, like subways, as well as ground transportation, such as taxis, buses and parking.

It’s easy to see how nearly every segment of a local economy benefits from a vibrant arts and culture scene. Art paves the way for economic prosperity. Additionally, art contributes to enhanced quality of life and creates unique cultural experiences.

By supporting arts and culture, chambers of commerce support restaurants, retailers, hotels and transit in the communities they serve. And, supporting arts means creating a more vibrant place for people in the community.

For more local and national data, check out the Arts & Economic Prosperity 5 Report (AEP5), published by Americans for the Arts. Learn how can chambers of commerce can support the arts and culture sector at www.pARTnershipMovement.org.

Randy Cohen is vice president of research and policy and Emily Peck is vice president of private sector initiatives for Americans for the Arts.

Tags: Economic Impact, Arts, Economic Development

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Considering Obesity in Site Selection

Jessie Azrilian & Hannah Nequist on Friday, September 26, 2014 at 2:30:00 pm 
Obesity Prevalence

Site selectors have to consider a variety of important factors when searching for communities to house their companies. While workforce health is one of the least discussed factors in site selection, due to a combination of both legal issues and lack of awareness, rising obesity rates and the associated healthcare costs are now demanding the conversation.

Last week, Site Selection magazine released a story covering a newly published report by Trust for America's Health and the Robert Wood Johnson Foundation (RWJF).The study explores the rates of obesity among adults and children in this country. Findings indicate that six states saw an increase in obesity prevalence over the last year, and no states demonstrated improvement. Obesity rates are now at the highest ever in two states - reaching over 35% in both Mississippi and West Virginia. Twenty more states are above 30%, and there are no longer any states below 21%.

Obesity increases risk for type two diabetes, heart disease and a host of other health concerns. If obesity rates continue to rise, employers will feel the increased financial burden of insuring their growing workforce.

Studies highlighted in Site Selection show that engaging industry leaders can make a significant impact in reducing obesity while increasing their business’ bottom line. For example, corporate wellness programs show a consistent ROI in terms of reducing healthcare costs and increasing employee productivity. 

With scales climbing right alongside healthcare costs, the business community can no longer afford to ignore how the health of the current and future workforce impacts their ability to compete in a global economy. Companies selecting new areas to expand or relocate their operations are seeking healthy communities driving healthy economies.

Consider the following resources for more information:

ACCE's Workforce Wellness Communication Briefs

Site Selection magazine's "Waistline Watch"

"The State of Obesity: Better Policies for a Healthier America"

 

Tags: States, Economic Impact, Obesity

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