Concord has been rated one of the safest and best places to live - not only in New Hampshire, but in the country.
Arts Industry Returns $2.8 million in Revenue to Local and State Coffers
Concord, NH (June 2017) — The nonprofit arts and culture industry generates $31.2 million in annual economic activity in the Greater Concord area—supporting more than 960 full-time equivalent jobs and generating $2.8 million in local and state government revenues, according to the Arts & Economic Prosperity 5 national economic impact study. The most comprehensive economic impact study of the nonprofit arts and culture industry ever conducted in the United States, Arts & Economic Prosperity 5 was conducted by Americans for the Arts, the nation’s leading nonprofit organization for advancing the arts and arts education, in partnership with local organizations including the Greater Concord Chamber of Commerce.
Results show that local nonprofit arts and culture organizations spent $17.8 million during fiscal year 2015. This spending is far-reaching: organizations pay employees, purchase supplies, contract for services and acquire assets within their community. Those dollars, in turn, generated $22.4 million in household income for local residents.
“This is the second time we have partnered with Americans for the Arts to measure the impact of the nonprofit arts and culture institutions locally. The numbers have been growing and demonstrate that Concord is emerging as an important cultural center in New Hampshire,” commented Tim Sink, President of the Greater Concord Chamber of Commerce.
Arts Industry Boon for Local Businesses
In addition to spending by organizations, the Greater Concord nonprofit arts and culture industry leverages $13.4 million in event-related spending by its audiences. As a result of attending a cultural event, attendees often eat dinner in local restaurants, pay for parking, buy gifts and souvenirs, and pay a babysitter. Out of town attendees frequently stay overnight in local hotels, get coffee and breakfast and fill gas tanks before heading home.
"The study showcases the growing economic impact of nonprofit cultural organizations in the Greater Concord Area. Just over half of audience participants in the study came from outside of Merrimack County and 93% reported that their primary purpose for visiting the area was to attend that particular arts event. This means Concord is attracting cultural tourists that spend on average $49 per person at local shops, restaurants, and hotels in addition to what they paid on tickets or admissions. Anecdotally, the Capital Center for the Arts knew this was happening, but it is fantastic to have the study to confirm our observations," said Nicki Clarke, Executive Director of the Capitol Center for the Arts.
Nationwide, the Arts & Economic Prosperity 5 reveals 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.
“This study demonstrates that the arts are an economic and employment powerhouse both locally and across the nation,” said Robert L. Lynch, President and CEO of Americans for the Arts. “A vibrant arts and culture industry helps local businesses thrive and helps local communities become stronger and healthier places to live. Leaders who care about community and economic vitality can feel good about choosing to invest in the arts. Nationally as well as locally, the arts mean business.”
Readers can view both the full 36-page Greater Concord study and a summary online at www.concordnhchamber.com/about-us/creative-concord or contact Tim Sink for more information.
The Arts & Economic Prosperity 5 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. Financial information from organizations was collected in partnership with DataArts™, using a new online survey interface.
The Greater Concord Chamber of Commerce develops economic opportunities, strengthens the business climate and enhances the quality of life in the Capital Region. For more information, please contact the Greater Concord Chamber of Commerce at (603) 224-2508 or visit concordnhchamber.com.