Author: Cultural Policy Center (CPC) at the University of Chicago

Publication Year:

Media Type: Periodical (article)

Summary:

The Cultural Policy Center (CPC) at The University of Chicago convened Lasting Effects: Assessing the Future of Economic Impact Analysis of the Arts, a three day conference that examined benefits and pitfalls of using economic impact analysis (EIA) as a tool for arts advocacy.

Abstract: In the rush to attract and retain tourists and residents, cities across the nation have been implementing large public arts and culture projects. In Chicago alone, the last few years have seen the development of such major public arts projects as Millennium Park, The Harris Theatre of Music and Dance, and the renovation of Solider Field. It is taken as an article of faith among many that these projects are worth their cost. But are they? How do these developments and other, similar projects across the country contribute to their host communities? Does a state of the art theatre center add vitality to a communitys economy? Does the development of cultural amenities attract the creative class or does the presence of this class spark the development of cultural amenities? If its true that the arts and culture have a discernable impact on economies, what is the best method for obtaining a realistic measurement of this impact? Moreover, can the importance of arts and culture be reduced to economic considerations? To address these questions and others, the Cultural Policy Center (CPC) at The University of Chicago convened Lasting Effects: Assessing the Future of Economic Impact Analysis of the Arts, a three day conference that examined benefits and pitfalls of using economic impact analysis (EIA) as a tool for arts advocacy. In the rush to attract and retain tourists and residents, cities across the nation have been implementing large public arts and culture projects. In Chicago alone, the last few years have seen the development of such major public arts projects as Millennium Park, The Harris Theatre of Music and Dance, and the renovation of Solider Field. It is taken as an article of faith among many that these projects are worth their cost. But are they? How do these developments and other, similar projects across the country contribute to their host communities? Does a state of the art theatre center add vitality to a communitys economy? Does the development of cultural amenities attract the creative class,ﾝ or does the presence of this class spark the development of cultural amenities? If its true that the arts and culture have a discernable impact on economies, what is the best method for obtaining a realistic measurement of this impact? Moreover, can the importance of arts and culture be reduced to economic considerations?

Arts & Intersections:

Categories: Tourism, Funding, Economic Impact, Cultural Planning, Cultural Facilities, Cultural Districts, Creative Industries, Creative Economies