Thursday, November 1, 2012

The Economic impact of the Arts

The arts generated $1.76 Billion in economic activity in 2011 according to the 2012 Economic Activity Study of Metro Denver conducted by the Colorado Business Committee for the Arts (CBCA). That figure is up 18.4% from 2009. It would appear that arts economic activity is rebounding from the recession that began in 2008.

The arts and culture are a signifcant economic engine. The study notes that the $1.76 Billion includes $527 Million in 'new' money. 'New' money are dollars that otherwise would not have been spent in the Denver area.

The Arts also create jobs. Arts jobs increased by 7% over 2009 to a total of 9,354.

This activity ripples throughout the metro area economy. As our overall economy improves, hug an artist.

With Denver Arts Week beginning tomorrow, it is important to reflect on the fact that not only do the arts feed our souls, they feed our economy as well.

More information on the study and the CBCA.

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