According to a new national study, the nonprofit arts and culture industry in Salt Lake City generates $306.6 million in annual economic activity—supporting 10,479 full-time equivalent jobs and generating $27.9 million in local and state government revenues.
Conducted by the non-profit Americans for the Arts, the nation’s leading nonprofit organization for advancing the arts and arts education, the Arts & Economic Prosperity 5 study is the most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted in the United States.
Results show that nonprofit arts and culture organizations spent $112.4 million during fiscal year 2015. This spending is far-reaching: organizations pay employees, purchase supplies, contract for services and acquire assets within their community. Those dollars, in turn, generated $215.7 million in household income for local residents and $27.9 million in local and state government revenues.
“This in-depth study supports what we have long known and suspected – that arts and culture is core to economic well-being and vitality for Salt Lake City” said Lara Fritts, Director of the Department of Economic Development.
Nationwide, the Arts & Economic Prosperity 5 reveals that the nonprofit arts industry produces $166.3 billion in economic activity–$63.8 billion in spending by arts and cultural organizations and $102.5 billion in event-related spending by their audiences. In addition, it supports 4.6 million jobs and generates $27.5 billion in federal, state, and local tax revenues.
The Arts & Economic Prosperity 5 study was conducted by Americans for the Arts and supported by The Ruth Lilly Fund of Americans for the Arts. Americans for the Arts’ local, regional, and statewide project partners contributed both time and financial support to the study.
For a full list of the communities who participated in the Arts & Economic Prosperity 5 study, please visit: http://www.AmericansForTheArts.org/AEP5Partners.
For more information on the 2017 Utah Arts Festival visit http://www.uaf.org/
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