August 31, 2020
Activities: Arts / Culture / Humanities
Geography:
Demographics:
Annual ROI: 0.0%
Image source: Pixabay
As communities seek to rebuild in a Covid environment, they should start with the arts.
People engaged in arts/culture organizations make up a higher-than-average proportion of the unemployed. And as people seek to “go out” for the first time in months, physical experiences like concerts, museums and shows may be an attractive opportunity.
If you’re a city looking to revitalize your economy, here are 4 ways to help embrace your arts sector today:
1. Make sure you have members from the arts, culture, and entertainment industry on any COVID-19 task force. These artists or arts organization managers are in close touch with the sector and know what strengths and resources they possess that can be used when your economy opens.
2. If your city provides funding for the sector, don’t cut it, no matter how tempted you are. Keeping a healthy arts, culture, and entertainment sector will pay off in huge dividends once you open back up. According to our Arts and Economic Prosperity 5 Study, the nonprofit arts alone is a $166 billion a year industry that generates over $27.5 billion dollars in revenue for city/county and state governments.
3. Use the arts to help convey the need for safety and as a way to communicate the message with residents in an upbeat manner. People are more likely to listen to (and believe) information that is presented in a creative manner. Use your arts sector to help craft and get the information out to your residents.
4. Long term, make the arts part of your core strategic and economic plan. Few cities truly harness the full benefits of their arts assets. Have the arts as part of your senior planning and design team to reap the benefits arts can bring to your processes from the beginning, and not just as an afterthought.
The $27.5 billion in city revenues represents over 16% direct return on investment. Added to the reduced social costs like unemployment benefits and poverty services, this number goes even higher.
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