The Economic Impact of NonProfit Arts & Cultural Organizations & Their Audiences
The City of Ocala, along funding partners the College of Central Florida, Fine Arts For Ocala, Ocala Civic Theatre, Marion Cultural Alliance, Fine Arts for Ocala, Ocala Municipal Arts Commission and the Appleton Museum of Art participated in the Americans for the Arts fifth study of Arts Prosperity (AEP5). This was the most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted and included 341 cities, counties, states and individual arts districts.
The Americans for the Arts Prosperity 5 (AEP5) study reveals that our nonprofit arts and culture organizations are economic drivers—creating an industry that supports jobs, generates government revenue, and is a growing asset in our tourism portfolio.
AEP5 indicated that our local arts industry has a $56 million dollar annual impact on our local economy, employs 1,422, and generates $6.1 million in local and state government revenue. The research revealed that for every dollar an arts organization spent, an additional $3 was spent by arts event attendees, not counting the cost of admission.
By every measure, the results are impressive. This study puts to rest a misconception that communities support arts and culture at the expense of local economic development. In fact, communities are investing in an industry that supports jobs, generates government revenue, and is the cornerstone of tourism. Arts & Economic Prosperity 5 shows conclusively that, locally as well as nationally, the arts mean business!