Study: Boulder arts generate $115M economic impact
BOULDER — Boulder’s nonprofit arts and culture industry produces $115.1 million in annual economic impact, supporting 2,451 jobs and generating $21.9 million in local, state, and federal government revenues, according to an economic impact study.
The Arts & Economic Prosperity 6 national economic impact study. Arts & Economic Prosperity 6 was conducted by Americans for the Arts, an industry group that works to advance the arts and arts education.
The study calculates that nonprofit arts and culture organizations in Boulder spent $53.5 million during fiscal year 2022, including payrolls, purchase of supplies, contracted services and acquisition of assets in the community.
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“Audiences spent an additional $61.6 million in event-related expenditures, such as eating dinner in local restaurants, paying for parking, buying gifts and souvenirs, and paying a babysitter,” according to a press release.
Out-of-town attendees often stay overnight in a local hotel, the study noted.
Nonprofit arts organizations employed 1,711 workers, with audience spending supporting another 740 jobs.
Additionally, 4,333 volunteers donated 152,746 hours to the nonprofit arts and cultural organizations that participated in the study, representing a donation of time with an estimated aggregate value of $5.2 million. In-kind contributions showed an aggregate estimated value of over $1.9 million.
Direct spending, audience spending, and the arts workforce in Boulder generated $13.3 million in local, state, and federal government revenues, with more than $4 million of that returned to city and county.
Nationwide, the Arts & Economic Prosperity 6 study estimated that the nonprofit arts industry produces $151.7 billion in economic activity every year, resulting in $29.1 billion in federal, state, and local tax revenues, 2.6 million full-time equivalent jobs and $101 billion in personal income. The full report, a map of the 373 study regions, and a two-page economic impact summary can be found at AEP6.AmericansForTheArts.org.
