Arts and culture industry means $307M to SLC economy annually

The nonprofit arts and culture industry has an economic impact of $306.6 million annually in Salt Lake City, according to a new study by an arts and arts education organization.

The nonprofit Americans for the Arts’ “Arts & Economic Prosperity 5” study indicates the industry in Salt Lake City supports 10,479 full-time equivalent jobs and generates $27.9 million in local and state government revenues.

All figures in the study were based on the 2015 fiscal year. It indicated that nonprofit arts and culture organizations spent $112.4 million through employee pay, supply purchases, contracts and services and asset acquisitions within the community. That spending generated $215.7 million in household income for local residents and $27.9 million in local and state government revenues ($13 million for local government, $14.85 million for state government), it said. Spending by cultural audiences totaled $194.1 million.

{mprestriction ids="1,3"}“This in-depth study supports what we have long known and suspected: that arts and culture is core to economic well-being and vitality for Salt Lake City,” said Lara Fritts, Salt Lake City’s director of the Department of Economic Development.

Logan City and Iron County also were part of the study. Total spending by the nonprofit arts and culture industry was $76.1 million in Iron County and $31.3 million in Logan. Estimated spending by audiences totaled $62.8 million in Iron County and $13.75 million in Logan. Spending by organizations was $13.3 million in Iron County and $17.57 million in Logan. The industry supported 1,955 full-time-equivalent jobs in Iron County and 1,104 in Logan. Resident household income generated totaled $34.3 million in Iron County and $17.35 million in Logan. State government revenue generated was $3.57 million in Iron County and $1.24 million in Logan, while local government revenue totaled $3.45 million in Iron County and $1.45 million in Logan.

Nationally, the study reveals that the nonprofit arts industry produces $166.3 billion in economic activity, including $63.8 billion in spending by organizations and $102.5 billion in audience spending. It supports 4.6 million jobs and generates $27.5 billion in federal, state and local tax revenues.

The study was conducted by Americans for the Arts and supported by The Ruth Lilly Fund of Americans for the Arts. Americans for the Arts’ local, regional and statewide project partners contributed both time and financial support to the study. Economic figures for the studied communities are listed at http://www.AmericansForTheArts.org/AEP5Partners.{/mprestriction}