Final
The Economic Impact of the Arts
ECONOMIC DEVELOPMENT
Votes:
Action Taken:
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10:09 AM -- The Economic Impact of the Arts, Ms. Deborah Jordy, Colorado Business Committee for the Arts
Ms. Deborah Jordy, Colorado Business Committee for the Arts, began by discussing the economic impact of the arts and culture in the Denver Metro Area. There is no comparable statewide estimate, but she recommended that the Colorado Council on the Arts provide a study. A packet of information on the Colorado Business Committee for the Arts (CBCA) and the economic impact of the arts was distributed to the committee (Attachment A). She indicated that culture in metro Denver generated $1.311 billion in economic activity in 2003, with 11.3 million people attending cultural events. She provided information on the amount and types of arts-related businesses throughout Colorado. There are 12,087 arts-related businesses and 50,852 jobs statewide.
Ms. Jordy provided information on the Colorado Council on the Arts. State funding declined from $1.9 million in FY 2001-02 to $200,000 in FY 2003-04; the state ranks 49th in state per capita spending on the arts. Currently, the council receives just enough to receive federal matching dollars. She discussed the activities of the council, including providing grants for arts projects. She discussed an upcoming strong arts/strong communities initiative involving the council and the CBCA and Arts for Colorado, an arts advocacy organization, intended to show the link between the business and the arts community and the economic impact of the arts. Representative Borodkin discussed the need to market the economic impact of the arts and culture and the link between business and the arts. Senator Bacon discussed how companies and individuals want to locate in areas with a strong quality of life and that arts and culture are important aspects of quality of life. Ms. Jordy discussed examples of the economic impact that arts and cultural projects can have in communities.