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A s&Eco %mkk <br /> d Prosperity®5 <br /> A Project of Americans for the Arts <br /> The Economic Impact of Nonprofit Arts and <br /> Cultural Organizations and Their Audiences in <br /> INDIAN RIVER COUNTY, FL <br /> The Arts & Economic Prosperity 5 study provides <br /> compelling evidence that the nonprofit arts and culture <br /> sector is a $24.9 million industry in Indian River <br /> County—one that supports 651 full-time equivalent <br /> jobs and generates $3 million in local and state <br /> government revenue. <br /> Nonprofit arts and cultural organizations, which spent <br /> $16 million during 2015, leveraged a remarkable $8.9 <br /> million in additional spending by their audiences- <br /> - spending that pumped vital revenue into restaurants, <br /> hotels, retail stores, parking garages, and other local <br /> businesses. <br /> By proving that investing in the arts and culture yields <br /> economic benefits, Arts & Economic Prosperity 5 lays <br /> to rest the misconception that communities support arts <br /> and culture at the expense of local economic <br /> development. In fact, communities that support the arts <br /> and culture not only enhance their quality of life—they <br /> also invest in their economic well-being. <br /> The arts mean business in Indian River County! <br /> Total Impact of the Nonprofit Arts and Culture Industry <br /> (Expenditures by both organizations and audiences) <br /> Total Direct Expenditures $24,874,172 <br /> • Full-Time Equivalent Jobs 651 <br /> Resident Household Income $12,661,000 <br /> Local Government Revenue $1,127,000 <br /> State Government Revenue $1,893,000 <br /> For study details,visit www.cultural-council.org. <br /> Source:Americans for the Arts,2017(www.AmericansForTheArtrg). <br />