Arts & Economic Prosperity IV: Baltimore City
At the Mayor’s Town Hall Meeting held on October 17th, Randy Cohen of Americans for the Arts discussed some of the key points covered in the Arts & Economic Prosperity IV report. The report showcases the large economic and social impact that the nonprofit arts and culture industry has on Baltimore City, generating $388.2 million in economic activity.
Nonprofit arts and culture organizations themselves were found to spend $266.3 million. The spending of the organizations ranges from supplies (which are often purchased locally) to paying employees (supporting 9,505 fulltime equivalent jobs). Baltimore City’s arts and culture organizations create a wide array of jobs for administrators, artists, accountants, event planners, and many more. In addition to generating $260.4 million in household income to local residents, Baltimore City’s arts and culture organizations also provide $33.9 million of revenue for state and local government.
The report also highlights how arts and culture organizations bring in a significant amount of income to local businesses by event audiences: $121.9 million. Attendees who come to arts and cultural based events often shop at stores close to the event venue, eat at restaurants, pay for parking, and/or stay at nearby hotels. In the AFTA’s survey, 64.1% of all non-resident respondents stated that their reason for traveling to the city was to attend an art/cultural based event.
The Arts and Economic Prosperity IV report provides strong evidence of the important role that the arts and culture industry plays in Baltimore City’s economy. Not only does the arts and culture industry act as a source of jobs, household income, and government revenue, but is a primary aspect of Baltimore City tourism. Supporting Baltimore City’s arts and culture industry clearly coincides with supporting the city’s economic well-being.
To read the full report please click here.