There's new data about the financial impact of the arts in the Triad.
According to the findings, Guilford County generated over $162 million in annual arts economic activity. This includes $15.5 million in tax revenue, and nearly 6,000 jobs. This is a big jump from their 2010 total, which was $118 million.
Forsyth County's art economy is nearly $157 million, which is $20 million more than their 2010 total. The industry supports over 5,500 jobs.
The numbers are generated by contacting arts and cultural organizations directly, and via engagement with attendees at events, concerts, and galleries. The totals also take into account money spent on secondary activities like dining, bars, travel, and even babysitting.
Tom Philion is President and CEO of Arts Greensboro. He says it's known that the arts inspire, challenge, educate, and improve quality of life. But this information shows that they do several other things, as well.
“It shows the public that the arts are a real dynamic economic engine, and that they are an important part of community renaissance, place making, and bringing the community together. The numbers show the remarkable impact all of that activity has on the community.”
Philion also says the city has changed in many ways over the past few years with more projects downtown, like The National Folk Festival. The first year of the festival generated $15 million in economic activity.
“And this is a city on the move, and i think that this report bears out that Greensboro really is rapidly changing, and moving forward in a way to attract and retain skilled workers and draw businesses to this community.”
Across the state, arts are a $2.12 billion industry supporting almost 72,000 full-time equivalent jobs. And nationwide, the study concludes that arts and cultural activities account for $66 billion in economic activity, and 4.6 million jobs.