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Conclusion <br />The nonprofit arts and culture sector is a $24.9 million industry in Indian River <br />County—one that supports 651 full-time equivalent jobs and generates $3 <br />million in local and state government revenue. <br />Nonprofit arts and cultural organizations are businesses in their own right. They spent <br />$16 million during fical year 2015 to employ people locally, purchase goods and <br />services from local establishments, and attract tourists. They also leveraged a <br />remarkable $8.9 million in additional spending by cultural audiences—spending that <br />pumps vital revenue into restaurants, hotels, retail stores, parking garages, and other <br />local businesses. <br />This study puts to rest a misconception that communities support arts and culture at <br />the expense of local economic development. In fact, communities that support the arts <br />and culture are investing in an industry that supports jobs, generates government <br />revenue, and is the cornerstone of tourism. This Arts & Economic Prosperity 5 study <br />shows conclusively that the arts mean business in Indian River County! <br />AMERICANS FOR THE ARTS I Arts R Economic Prosperity 5 nJ <br />