MARYLAND ARTS DELIVER $1 BILLION BOOST TO ECONOMY!
The arts industry generated a total of $501 million in direct spending and had a total economic impact of $1 billion during fiscal 2010, according to a recently released economic-impact study from the Maryland Department of Business and Economic Development concerning the state’s arts industry that year. Here are some of the findings in the report:
• About 7.6 million people attended arts events in Maryland, spending an estimated $292 million on related goods and services.
• The arts industry generated 10,671 full-time equivalent jobs.
• Arts-related employment accounted for $385 million in salaries.
• Arts organizations generated $209 million in direct spending on goods and services.
• The arts industry provided $36.5 million in state and local taxes.
• Every $1 in arts organizations’ operating budgets led to $3.78 in additional economic activity.
• Grants from the Maryland State Arts Council represent $1 out of every $19 in the operating budgets of arts organizations.