Parks & Recreation

Arts & Culture - Arts & Economy

Total Economic Impact of the Arts to Tampa Bay $521.3 million Created 7,800 Jobs Economic Impact Study, TBBCA 2004

The arts are good for the economy:

• They attract businesses and social capital
• They create jobs
• They create spending
• They create taxes
• They attract tourism

While the ARTS have been recognized as a contributor to a city's quality of life, recently there has been a focus on their economic value.  Numerous studies have shown the positive economic impact the arts have had on communities large and small.

 Recent research shows that each dollar spent on the arts generates seven dollars in non-arts expenditures. Other research has further demonstrated that the arts are a magnet for large corporations and an effective and economical catalyst for the revitalization of urban centers

To read more about the economic value of the ARTS in the Tampa bay area, visit the website of Tampa Bay Business Committee for the Arts.

Economic Impact of the Nonprofit Arts & Culture Industry

"America's nonprofit arts and culture industry generates $166.2 billion in economic activity every year-$63.1 billion in spending by organizations and an additional $103.1 billion in even-related spending by audiences. The national impact of this activity is significant, supporting 5.7 million jobs and generating $29.6 billion in government revenue.” (Americans for the Arts, Arts & Economic Prosperity III)

Economic Impact Nationwide

Economic Impact in Pinellas County

(For more details, visit www.pinellasarts.org)

Creative Cities

Recently, many cities have taken a new economic development strategy.  Instead of just focusing on attracting large corporations to their area, they are examining ways to attract the creative workforce.

Richard Florida, a professor of regional economic development at Carnegie Mellon University and author of "The Rise of the Creative Class", struck a chord with his theory that thriving cities attract culturally and ethnically diverse people.

Locally, an organization called CreativeTampaBay was formed in the fall of 2003 after Richard Florida visited in the area.  Its mission is to serve as a catalyst for economic and social development in the region by promoting principles of the creative economy and developing creative industry.  CreativeTampaBay believes that business, economic development, arts, culture, social and environmental principles must work together to create vibrant, sustainable communities.  Check out their Web site to read more about this organization and the research projects they have sponsored.