Research and the Creative Economy

The arts and culture drive what is called a creative economy

 

In 2007, the University of New Mexico Bureau of Business and Economic Research (aka: BBER) released some rather surprising findings in regards to the economic importance of the Arts and Cultural Industries in the Albuquerque and Bernalillo County. They reported that the arts and cultural industries generated $1.2 BILLION in revenues, $413 million in wages, and 19,500 jobs totaling 6% of all employment in the County. In addition, HALF of this activity was funded by dollars from outside the region, generating economic growth and opportunity. The arts and cultural industries also demonstrated incredible depth (which is good for longevity) from:

-the for-profit design, architecture, digital, media, tourism, etc.

-artists and artisans, many of which are self-employed

-non-profits organizations that educate, entertain and create jobs

-public institutions engaged in various levels of education and training

-other scientific and technical resources that contribute to the creativity of the community

These findings are not unique to this area by any means. Other cities have done similar studies and have very similar results. And, in findings as recent as 2011, it has also been noted that the arts survived the economic downturn surprisingly well. So, from an economic standpoint, does art matter? Heck, yes!

 

public art