Arts & Economic Prosperity
Arts Alive! and Americans for the Arts in 2008 conducted a major 11 month study to quantify the broad economic impact of arts and cultural activities in the Monadnock region. The Arts & Economic Prosperity III study provides compelling new evidence that the nonprofit arts and culture are a $16.6 million industry in the Monadnock Region—one that supports 477 full-time equivalent jobs and generates $1.3 million in local and state government revenue.
Nonprofit arts and culture organizations, which spend $13.1 million each year, leverage a remarkable $3.5 million in additional spending by arts and culture audiences—spending that pumps vital revenue into local restaurants, hotels, retail stores, parking garages, and other businesses.
By demonstrating that investing in the arts and culture yields economic benefits, Arts & Economic Prosperity III lays to rest the common misconception that communities support the arts and culture at the expense of local economic development. In fact, communities that support the arts and culture not only enhance their quality of life, they also invest in their economic well-being.