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Arts & Economic Prosperity 6 (2023)

Arts & Economic Prosperity 6 (2023)

Arts & Economic Prosperity 6 (AEP6) is an economic and social impact study of the nation’s nonprofit arts and culture industry.

Nationally, the sector generated $151.7 billion of economic activity in 2022—$73.3 billion in spending by arts and culture organizations and an additional $78.4 billion in event-related expenditures by their audiences.

What was the impact of this economic activity? It supported 2.6 million jobs, provided $101 billion in personal income to residents, and generated $29.1 billion in tax revenue to local, state, and federal governments.

As a banker, I have visited businesses in almost every city and town in my state. There is a visible difference in places with a vibrant arts community. I see people looking for places to park, stores staying open late, and restaurants packed with diners. The business day is extended, and the cash registers are ringing.

Ken Fergeson, Chairman – NBC Oklahoma; Past Chair – American Bankers Association

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