Laserfiche WebLink
Economic Impact of Spending <br />by the Nonprofit Arts and Culture Industry <br />(Combined Spending by Both Organizations and Their Audiences) <br />in Indian River County <br />In communities coast-to-coast, from our smallest towns to our largest cities, America's 100,000 nonprofit arts and <br />cultural organizations make their communities more desirable places to live and work every day of the year. <br />The arts and culture provide inspiration and joy to residents, beautify public spaces, and strengthen the social <br />fabric of our communities. Nonprofit arts and cultural organizations are also businesses. They employ people <br />locally, purchase goods and services from other local businesses, and attract tourists. Event -related spending by <br />arts audiences generates valuable revenue for local merchants such as restaurants, retail stores, parking garages, <br />and hotels. <br />During fiscal year 2015, spending by both Indian River County's nonprofit arts and cultural organizations <br />and their audiences totaled $24.9 million. The table below demonstrates the total economic impact of these <br />expenditures. <br />7 ABLE l :. - <br />Total Economic.lmpact.of thcilonprofit Arts <br />-- <br />and Culture Industry <br />— — <br />in Indian•River Count <br />--- -- -; :—, <br />(Combined Spending by Nonprofit Arts and Cultural <br />....... , ... r, <br />Organizations acid <br />........ <br />Their Audiences) - <br />� <br />Median of <br />Similar Study Regions <br />Indian <br />River County <br />Pop. _ 100,000 to 249,999 <br />National Median <br />Total. Expenditures <br />$31,381,076 <br />1 <br />Full -Time Equivalent •• <br />1 . <br />Resident Household Income <br />S12,661,000 <br />$19,916,500 <br />$23,154,000 <br />Local• <br />III <br />26%000 <br />407,000 <br />GovernmentState Revenue <br />SI,893,000 <br />111 <br />The Arts Improve the Economy ... and the Quality of our Personal Lives <br />✓ 82 percent of Americans believe the arts&culture are important to local businesses and the economy <br />✓ 87 percent of Americans believe the arts & culture are important to quality of life <br />Source: Americans for the Arts' 2016 survey of 3,020 adults by Ipsos Public Affairs <br />4 AMERICANS FOR THE ARTS I Arts & Economic Prosperity 5 <br />?I ..1-16 <br />