Author: Greenville Metropolitan Arts Council

Publication Year: 1978

Media Type: Report

Summary:

This section summarizes and discusses the major findings resulting from an application of the economic model to Greenville. The unit of analysis was Greenville County; unless otherwise indicated, all data are for fiscal year 1977. It should be noted at the outset that, although the identified effects are not large compared with many industries in the region, they indicate that significant reductions in the budgets of these cultural institutions would have noticeable impacts on jobs, income, and business volume in the county.

Abstract:

This section summarizes and discusses the major findings resulting from an application of the economic model to Greenville. The unit of analysis was Greenville County; unless otherwise indicated, all data are for fiscal year 1977. It should be noted at the outset that, although the identified effects are not large compared with many industries in the region, they indicate that significant reductions in the budgets of these cultural institutions would have noticeable impacts on jobs, income, and business volume in the county.

The total impact of cultural institutions on the business sector can now be stated by adding up:

1. Total institution-related local expenditures.
2. Purchases by local businesses from local sources in support of institution-related expenditures.
3. Local business volume stimulated by institution-related income spent by local business employees.

For a total of $7,952,711. In addition, as already stated, these local firms have invested $1,250,007 worth of inventory and equipment in order to service institution-related business. Finally, cultural institutions generated $1,399,827 worth of additional local bank credit in the region. (Introduction, p. 9, 11)

CONTENTS
Introduction.
Spending: Direct impacts on local business.
Business effects: induced.
Impact on government and individuals.
Summary.

Arts & Intersections:

Categories: Economic Impact