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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 /> AB <br /> 7LE I: <br /> Total Economic Impact of the Nonprofit Arts and Culture Industry in Indian River Count <br /> (Combined Spending by Nonprofit Arts and Cultural Organizations and Their Audiences) _ <br /> Median of <br /> Similar Study Regions <br /> Indian River County Pop.=/00,00010 249,999 [ National Median <br /> Total Industry Expenditures S24,874,172 $31,381;076 $35,750,645 <br /> Full-Time Equivalent Jobs 651 1,046 1,131 <br /> Resident Household Income S12,661,000 $19,916,500 523,154,000 <br /> Local Government Revenue SI,127,000 $1,260,000 $1,407,000 <br /> State Government Revenue SI,893,000 $1,552,000 $1,961,000 <br /> iI 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 /> �II -Ib <br />