Norwood Development Group’s Post

Transcript

The arts community of the Pikes Peak Region is evolving as our population and economy dynamically grows and changes. The creative sector is a diverse mix of small businesses, nonprofits, and solopreneurs, all contributing economically and responding relevantly to our social needs. Researching and supporting that whole creative ecosystem is part of the cultural offices work every five years. We partner with the Americans for the Arts. As the local lead for a national study of arts nonprofit specifically called Arts and Economic Prosperity, or AEP, our Cultural Office team has new learnings to share with you from the recent AP6. So what do our local numbers say? In 2022, Arts and culture nonprofits in El Paso and Teller counties. That a $184.6 million economic impact. Let's break that down a bit. To measure economic impact, Americans for the Arts looks at nonprofit expenditures, but also their audience spending. They even created a calculator that any arts and culture nonprofit can use to measure their economic impact. The calculator shows that for every 100. $1000 in spending by an arts nonprofit The following happens. Two jobs are created in the nonprofit sector, meaning more full time staff that can respond to the needs of the people they serve. $64,656 in household income is generated, showing dollars stay hyper local. Local government receives $1574 in income which goes to services such as firefighters, public health and trails. State government receives $1910.00 which goes to initiatives such as improving our infrastructure and helping families. Need through statewide social programs. Federal tax revenue is $14,551, which again goes back into our community through schools, police, local government programs, and more. As an experience, the arts generate a ripple effect around their ticket sales. When dollars are exchanged locally, they have a diffusion effect where they eventually leak into the greater community. When a dollar says local, like a meal, hotel, or babysitter cost, it diffuses slower and with more impact than other types of spending. We know this because we know. Every $10 spent on a local business and event, seven of those stay in the community where they were spent. Let's go back to audience spending for just a minute. Did you know that out of town audiences spend an average of $71.24 to attend an arts event? That's nearly double when compared to a local attendee and doesn't even include the price of admission. The arts are a big reason visitors to the Pikes Peak region extend their trips and spend more dollars here. AP6 doesn't stop with numbers, it also measures the social impact of the arts and how they create healthier. More vibrant communities Over 87% of Arts and Economic Prosperity survey respondents here in the Pacific region said the arts inspire pride in their neighborhood or community and nearly 82% of attendees, so the venue or facility was an important pillar for them within the community. In divisive times, the arts bring people together to celebrate their neighborhoods. This cohesiveness and togetherness is something we should all uplift and celebrate. It reminds us that the Pikes Peak region is part of a larger story of how the arts can uplift communities. The Power of the. Lawrence is documented in a snapshot by the Arts and Economic Prosperity Study, but the full story unfolds around us everyday. The creative ecosystem of the Pikes Peak region can accomplish even more with our support, our participation, and our ongoing investment. We invite you to find your role in supporting the arts at culturaloffice.org.