The Economic Impact of the Arts

About the Program

Category: Arts, Culture and Historic Preservation (Best in Category)

Year: 2009

The Impact of the Arts in Miami-Dade County, a study that documents the local impact of county arts programs, verifies the strong positive relationship between arts and the economy. Because of the rapid rise in the county’s arts and cultural industry, a study was conducted to determine if its success had a positive economic effect. The results from the analysis were extremely favorable. The study, conducted by one of Miami’s economic development agencies, focused on two areas: the economic impact of spending by the cultural organizations and the impact of event-related spending by these organizations’ audiences. It concluded that, in total, the arts generate $922 million annually to the local economy while also providing over 22,000 jobs. It was also found that for every grant dollar invested by the county into a cultural non-profit organization, $27 in additional funding from other private and public sources were generated. Overall, it was found that the arts have the ability to generate quantifiable and significant returns on investments, revitalize neighborhoods, and provide high quality experiences for county residents and visitors.