The arts create economic growth where there is otherwise decline.
Art and community development results in greater tax revenues. In one time period, the downtown Phoenix creativity hub yielded a 105% increase in tax receipts, compared to a city-wide decline of 1.04%.
The arts spark growth, ensure innovation, and keep businesses competitive.
Research into the role of the arts in economic development highlight five ways the arts work: they creative a fast-growth, dynamic business sector, they help mature industries become more competitive, they provide critical ingredients for innovative places, they catalyze community revitalization, and the deliver a better prepared workforce.
53% of businesses say the arts are a good bet.
Of businesses that participated in a recent survey on business support for the arts, 53% said that business partnerships with the arts support creative thinking and problem solving.
The arts foster public-private partnerships to strengthen infrastructure.
In towns of all sizes, city councils and local government agencies often transcended traditional turfs and training to specifically to foster arts-driven downtown revitalization.
Arts and cultural economic activity accounts for 4.9% of the total U.S. GDP.
Research from the U.S. Bureau of Economic Analysis shows that the arts drive 4.9% of the U.S. GDP, generating $736.6 billion in 2015.