Study finds the overall economic impact of just 21 participating MetroWest cultural organizations in this study is $375M and 4,000 full-time jobs over the next five years – impact is much higher if you include all organizations, large and small
FRAMINGHAM, Mass. (April 11, 2013) – In a comprehensive four-month study by Concord-based Carlisle & Company Consulting* on the cumulative five-year impact (2012-2016), the MetroWest region’s arts and cultural institutions are both contributing to the economy in dollars spent and jobs created and causing a “ripple effect” in their communities and in the region.
According to Carlisle’s findings, dollars initially spent by a creative organization are then spread out into the community, creating a “ripple effect” contributing to the region’s total economic impact. Elements of this ripple effect include operating budgets, attendance (especially from out of region visitors), employees, endowments and investments.
Read the study’s executive summary.
According to Susan Nicholl, Executive Director of the MetroWest Visitors Bureau, “These findings are very good news, indeed, and a reminder of the importance of our region’s arts and cultural institutions. Although these numbers only reflect a portion of the region’s cultural assets, the trend is clear: all arts/cultural organizations large and small are critical to our region’s total economic impact in a very measurable way.”
“The MetroWest is rich in arts and cultural organizations that inspire, involve and connect us,” said Marilyn Martino, executive director of the Sudbury Foundation, which sponsored the economic impact study. “This study demonstrates how these agencies create jobs and contribute to the region’s economy. It’s important that we recognize this, and support this vibrant element of our region.”
Findings revealed on Thursday, April 11, include:
- The overall economic impact of the 21 MetroWest cultural organizations in this study is nearly $375M, and over 4,000 jobs over five years.
- Average annual increase in economic impact (2012-2016): $8,105,816, which is cumulative, resulting in nearly $400M over a five-year span
- Average annual increase in employment impact (2012-2016): 37 full-time equivalent (FTE) jobs per year, which is cumulative, resulting in nearly 4,000 FTE employees over a five-year span
- Contributing to economic impact: income by contractors/consultants; jobs in creative/cultural organizations tend to stay in the local economy
In order to participate in the study, organizations must have a minimum operating budget and could provide specific data – many organizations large and small were not qualified to participate in the survey, but still contribute largely to the economy of our region.
Participants included: Amazing Things Arts Center, The Center for Arts in Natick, Commonwealth Ballet, Concord Museum, Danforth Museum of Art, The Discovery Museums, Five Crows, Fountain Street Fine Art, Framingham History Center, Franklin Performing Arts Company, Franklin School for the Performing Arts, Hopkinton Center for the Arts, Mass Audubon, Museum of Russian Icons, Natick Center Associates, Natick Historical Society, New England Wildflower Society, Palettes, Spellman Museum of Stamps & Postal History, Tower Hill Botanic Garden, and The Wayside Inn.
The MetroWest Visitors Bureau commissioned Carlisle & Company to conduct this research over a four-month period. Generous sponsors: The Sudbury Foundation, with additional support from Braver PC.
Read the MetroWest Daily News article
Read the Worcester Business Journal article
*Editor’s note: Carlisle Consulting used two validated models to calculate economic impact, and averaged the results to improve reliability: Americans for the Arts (AFTA) Arts and Economic Prosperity Initiative (national model) and Center for Creative Community Development (C3D) and New England Foundation for the Arts’ Culture Count Initiative (regional models).