How Much Do the Arts Contribute to Utahs Gdp
Image from Pixaby user Gerd Altman.
Washington, DC—According to the latest data issued today by the Bureau of Economic Analysis and the National Endowment for the Arts, the arts remain a vital component of the U.Due south. economic system. As the United States navigates a time of economical uncertainty due to the spread of COVID-19, it is important to recognize and champion the economical contributions of the arts to all 50 states, the U.S. territories, and the nation as a whole.
The sixth edition of the Arts and Cultural Production Satellite Account (ACPSA) finds that arts and culture contributed $877.eight billion, or 4.5 per centum, to the nation'south gdp (GDP) in 2017. That same year, there were over 5 meg wage‐and‐bacon workers employed in the arts and cultural sector, earning a full of $405 billion. Complete national findings are available including an interactive infographic and data tables.
The ACPSA tracks the annual economical impact of arts and cultural product from 35 industries, both commercial and nonprofit. The 35 industries that are tracked range from architectural services to sound recording and are considered a distinct sector of the nation's economy. With the outbreak of COVID-xix, many arts organizations and venues—theaters, concert halls, museums, studios, festivals, and galleries—accept close their doors until further notice from public wellness officials.
"Earned income accounts for a substantial share of the bottom line of most nonprofit arts organizations," Sunil Iyengar, managing director of Research & Analysis at the Arts Endowment, said. "During economic downturns, the sector is acutely vulnerable—in terms of earned income, just also in fundraising. Given the lean operating budgets of such organizations, these losses can have an outsized impact, leading to fewer jobs in arts industries, and in the businesses that supply them."
Key Na tional Findings
As arts venues close, information technology will exist important to monitor the impact on ticket sales.
- In 2017, consumers spent $26.5 billion on admissions to performing arts events, including $17 billion on theater/musical theater/opera performances and $3.7 billion on music groups and artists (east.yard., jazz, stone, and state music performances).
Arts industries that contribute the most value to the nation's GDP are too highly reactive to swings in business cycles including:
- Performing arts companies
- Independent artists, writers, and performers
- Arts‐related retail trade (for instance museum stores and art galleries)
Fifty-fifty equally the sector continues to respond to market forces, it is worth noting that arts and civilisation contribute significantly to the U.S. economic system.
The arts and cultural sector add together more to the economy than practise construction and transportation/warehousing combined.
- The value added past arts and culture to the U.S. economy is five times greater than the value from the agronomical sector.
- Arts and culture added more to the U.S. economic system than construction and transportation/warehousing past $87 billion and $265 billion respectively.
Arts and culture generate a widening trade surplus. From 2006 to 2017, this surplus grew ix‐fold, to more $25 billion.
- In 2017 alone, the U.South. exported nearly $30 billion more than in arts and cultural goods and services than information technology imported.
The sector has shown chapters for rapid growth.
- Between 2015 and 2017, the arts and cultural sector grew at more than twice the rate of the total U.Southward. economic system—at most four.45 pct, in terms of almanac boilerplate growth rate.
- Amid high-growth arts industries are performing arts presenters, arts-related construction, and publishing. Arts-related web publishing and streaming grew past 29 per centum.
Primal State Findings
On a state level, the arts and cultural sector added $72.8 billion to the economies of rural states—i.e., states in which 30 percent or more than of the population live in rural areas, equaling 18 states.
Six states significantly surpassed the boilerplate national growth rate of 5.6 per centum for the flow 2015-2017: Washington, California, Nevada, Utah, Georgia, and Massachusetts.
Arts and cultural value added forBoilerplate annual growth rate of
2017 (in millions) value added: 2015-2017
United States$877,809 5.six%
Washington$44,303 thirteen.7%
California $230,298 9.9%
Nevada $eight,738 nine.4%
Utah $seven,214 eight.6%
Georgia $24,407 7.half dozen%
Massachusetts $25,805 7.ii%
- Arts-related retail trade contributed considerably to the growth in Washington'due south arts economic system,
- Arts-based web publishing and streaming added to California'south arts production.
- Georgia witnessed growth in its motion film and video industries.
- Utah gained in value added by the state's performing arts companies.
- Economic value from the construction of new arts and cultural structures spiked in Massachusetts
Complete state findings are available as well. In addition, through an award from the Arts Endowment, the National Assembly of State Arts Agencies (NASAA) has produced an interactive dashboard that allows users to explore key information for individual states.
About the National Endowment for the Arts
Established by Congress in 1965, the National Endowment for the Arts is the independent federal agency whose funding and support gives Americans the opportunity to participate in the arts, exercise their imaginations, and develop their artistic capacities. Through partnerships with land arts agencies, local leaders, other federal agencies, and the philanthropic sector, the Arts Endowment supports arts learning, affirms and celebrates America'southward rich and diverse cultural heritage, and extends its work to promote equal access to the arts in every community across America. Visit arts.gov to learn more.
Source: https://www.arts.gov/about/news/2020/during-economic-highs-and-lows-arts-are-key-segment-us-economy
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