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Home > BizTimes Daily > Archives > June 12, 2007
Study reveals economic impact of the arts in Milwaukee
Published June 12, 2007 - BizTimes Daily
The Cultural Alliance of Greater Milwaukee today unveiled a new study that concludes that the nonprofit arts industry has an annual economic impact of more than $249 million annually I metropolitan Milwaukee.
The study was outlined in a press conference this morning at the Marcus Center for the Performing Arts.
According to the study, the economic impact of nonprofit arts groups generates: 8,359 full-time equivalent jobs; $164.6 million in resident household income; $14.7 in local government tax revenues; and $18.2 in state government tax revenues.
"This study clearly confirms that the nonprofit arts and culture industry in our region impacts our economy in addition to our hearts and minds," said Tony Forman, executive director of the Cultural Alliance of Greater Milwaukee. "The numbers demonstrate what we see when we are in downtown Racine, Waukesha or the Historic Third Ward in Milwaukee - exciting places to visit, dine, shop, attend an event or visit a gallery. We are an important part of what makes this region such a desirable place to live, or visit."
The economic impact includes $95.11 million in event-related spending by arts audiences, reflecting an average of $25.97 per person in spending for hotels, restaurants, parking, souvenirs, refreshments or other similar costs.
The local results were compiled as part of the most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted in the United States. Entitled "Arts & Economic Prosperity III," the study was conducted in 156 communities and regions, including Greater Milwaukee.
The Cultural Alliance of Greater Milwaukee helped to facilitate the gathering of the detailed economic data from 64 arts organizations that were among 6,080 local arts organizations surveyed nationwide. Americans for the Arts, which conducted the national study, is the leading nonprofit organization for advancing the arts in America.
