New study puts arts’ economic impact at $120 million in four NH communities
Cultural organizations generate 3,851 full-time jobs in Rochester, Portsmouth, Concord and Monadnock regions
A newly released study puts the economic impact of the arts and culture industry on four New Hampshire regions at $120 million.
The impact translates into more than 3,851 full-time equivalent jobs, $81,650,000 in household income and $12,474,000 million in local and state government revenues in the greater Rochester, greater Concord, greater Portsmouth and Monadnock regions, according to the Americans for the Arts’ Arts & Economic Prosperity 5 national economic impact study.
The study is the most comprehensive look at the economic impact of the nonprofit arts and culture industry ever conducted in the United States, according to Americans for the Arts, a nonprofit organization for advancing the arts and arts education, which compiled the information in partnership with organizations in 341 regions across the country.
The study found that, in the four regions, a total of some $120 million is spent annually by audiences attending an art or cultural event.
Drilling down, in the specific New Hampshire regions studied, the results are:
Greater Rochester – total economic impact: $12,256,157; FTEs: 405; household income: $8,080,000; state and local revenues: $1,048,00; spending by organizations: $4,353,943; spending by audiences: $7,902,214.
Greater Portsmouth – total economic impact: $58,041,659; FTEs: 1,825; household income: $38,408,000; state and local revenues: $6,768,000; spending by organizations: $21,456,627; spending by audiences: $36,585,032.
Greater Concord – total economic impact: $31,185,366; FTEs: 962; household income: $22,438,000; state and local revenues: $2,754,000; spending by organizations: $17,833,550; spending by audiences: $13,351,816.
Monadnock Region – total economic impact: $18,551,485; household income: $12,724,000; FTEs: 659; state and local revenues: 1,904,000; spending by organizations: $13,271,384; spending by audiences: $5,280,101.
The local organizations that participated in the study were Art-Speak (the city of Portsmouth's cultural commission), the Rochester Department of Economic Development, the Greater Concord Chamber of Commerce and Arts Alive! Inc. of Keene.
Nationwide, the study found that the nonprofit arts industry produces $166.3 billion in economic activity every year, resulting in $27.5 billion in federal, state and local tax revenues. In addition, it supports 4.6 million full-time equivalent jobs and generates $96 billion in household income.