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Economic Impact of Spending by Nonprofit Arts and Cultural AUDIENCES • in Indian River County • The nonprofit arts and culture industry,unlike most industries, leverages a significant amount of event-related spending by its audiences. For example,when patrons attend a cultural event,they may pay to park their car, purchase dinner at a restaurant, shop in nearby stores,eat dessert after the show,and pay a babysitter upon their return home. Attendees from out of town often spend the night in a hotel. This spending generates related commerce for local businesses such as restaurants,parking garages,retail stores,and hotels. Local businesses that cater to arts and culture audiences reap the rewards of this economic activity. To measure the impact of spending by cultural audiences in Indian River County,data were collected from 768 event attendees during 2016. Researchers used an audience-intercept methodology,a standard technique in which patrons are asked to complete a short survey about their event-related spending(while they are attending the event). In Indian River County,cultural attendees spent an average of$25.56 per person,per event as a direct result of their attendance at the event. The 10 participating nonprofit arts and cultural organizations reported that the aggregate attendance to their events was 346,697 during 2015. Event-related spending by these attendees totaled $8.9 million in Indian River County during fiscal year 2015, excluding the cost of event admission. The following table demonstrates the total economic impact of this spending. TABLE 3'` - . Total Economic Impact.of Spending by Nonprofit• -Arts and Cultural AUDIENCES • in Indian River County(excluding the cost of event admission') !`i ....,,.. ,.... .... � ,..... ..,.., Median of HSimilar Study Regions ! Indian Riser County Pop.100,000 to 249,999 National Median b Total Audience Expenditures S8,855,149 $15,144,477 $18,871,511 Full-Time Equivalent Jobs 180 382 430 Resident Household Income S3,193,000 $7.980,000 $8,402,500 Local Government Revenue 5331,000 $696,500 $898,000 State Government Revenue S565,000 $767,000 $1,007,500 I Why exclude the cost of admission?The admissions paid by attendees are excluded from the audience analysis because those dollars are captured in the operating budgets of the participating nonprofit arts and cultural organizations and,in turn,are spent by the organizations.This methodology avoids"double-counting'those dollars in the study analysis. 8 AMERICANS FOR THE ARTS(Ans&Economic Prosperity 5 TI- 14