TITLE: Title
Economic Development Impacts of Arts in Orange County, NC
PURPOSE: The purpose of this item is to report to the Board the findings of the Arts and Economics Prosperity IV study conducted by Americans for the Arts.
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DEPARTMENT: Economic and Community Development
CONTACT INFORMATION: Annette Stone, AICP Economic and Community Development (919) 918-7319 astone@townofcarrboro.org
INFORMATION: Katie Murray, Orange County Executive Director for the Orange County Arts Commission will present the findings from the Arts and Economics Prosperity IV. According to the study, the nonprofit arts and culture industry generates $85.4 million in annual economic activity in Orange County, NC -supporting 3,352 full-time equivalent jobs and generating $8.0 million in local and state government revenues. The most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted in the United States, Arts & Economic Prosperity IV was conducted by Americans for the Arts (AFTA), a national nonprofit organization for advancing the arts and arts education.
The study also stated, nonprofit arts and culture organizations in Orange County, NC spent $63.9 million during fiscal year 2010. This spending is far-reaching: organizations pay employees, purchase supplies, contract for services and acquire assets within their community. Those dollars, in turn, generated $55.6 million in household income for local residents and $5.4 million in local and state government revenues.
Nationally, the Arts & Economic Prosperity IV study reveals that the nonprofit arts industry produced $135.2 billion in economic activity during 2010. This spending-$61.1 billion by nonprofit arts and culture organizations plus an additional $74.1 billion by their audiences-supported 4.1 million full-time equivalent jobs and generated $22.3 billion in federal, state and local tax revenues
FISCAL & STAFF IMPACT: None.
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