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Economic Impact Study

Economic Impact Report on the Arts & Culture Industry of Hampton Roads.

Click here for Full Report (pdf)

The Cultural Alliance of Greater Hampton Roads is pleased to publish the latest Economic Impact Report of the region's arts and culture organizations. Professor Christopher Colburn of the Departmet of Economics at Old Dominion University designed the survey and analyzed the data.

The purpose of the study is to quantify the economic benefits arts and culture organizations have provided the region in Fiscal Year 2004.

Findings
The report finds that when viewed as an industry, arts and culture organizations employ more than any single hospital or banking organization in the region and is two times the size of the Hampton Roads telecommunications industry. Moreover, if we include the impact of visitor spending, the combined economic impact is $563.9 million - a figure that is over 10% higher than in 1999. Accompanying charts summarize other aspects of the study.

Use of Study Results
The value of the report lies in how it is used. Arts and culture advocates can share the results with business, municipal, state, and national representatives to support advocacy for increased public funding. Data in the study is drawn only from non-profit organizations. The exclusion of for-profit institutions results in a conservative estimate of financial return from the industry. Study results are valuable to cite in all arts and culture support materials.

Click here for Full Report (pdf)






 

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