Arts & Culture is a $360.1 Million Industry for Our Region
On June 17, 2017, Americans for the Arts unveiled the results of Arts & Economic Prosperity 5 (AEP5), the most comprehensive economic impact study of the nation’s nonprofit arts and culture industry ever conducted.
Results of the study reveal the level of economic activity as well as the number of full-time jobs the arts industry generates. The study’s findings also show how much tax revenues the nonprofit arts sector produces.
Key national results:
- 341 study regions across 50 states and D.C.
- Data collected from 14,439 organizations and 212,691 arts attendees
- Nonprofit arts industry generated $166.3 billion of economic activity in 2015
- Spending by arts and culture organizations = $63.8 billion
- Event-related expenditures by audiences = $102.5 billion
- Typical attendee spends $31.47 per person, over the cost of admission.
CultureWorks is excited to have led the effort in the Richmond and Tri-Cities region as one of 341 study regions that partnered with the Americans for the Arts to conduct the Arts & Economic Prosperity 5 study.
In our region alone, the local nonprofit arts and culture industry generates:
- $360.1 million in total economic activity
- Supports 10,702 full-time equivalent jobs
- $31.6 million in local and state government revenues
Visit our economic impact page for access to the complete reports and other economic impact tools.