Chesapeake Fine Arts Commission

Economic Impact

The CULTURAL ARTS INDUSTRY strongly impacts the entire community. Investment in the fine arts benefits the local economy while enriching the individual lives of residents. Economic impact studies throughout the country regularly show the direct, positive effect of local cultural activities on employment, business, direct spending, city/state taxes, tourism, and lifestyle.

A study done by the Americans for the Arts organization found that the results of the most comprehensive impact study of the non-profit arts industry ever in the U.S., Arts & Economic Prosperity: The Economic Impact of Nonprofit Organizations and Their Audiences were quite revealing. The nonprofit arts industry, as far back as 2001, generated at least $134 BILLION in economic activity every year. This $134 billion in total economic activity had a significant national impact:

•  4.85 million full-time equivalent jobs

•  $89.4 billion in resident household income

•  $6.6 billion in local government revenues

•  $7.3 billion in state government tax revenues

•  $10.5 billion in federal income tax revenues

Robert L. Lynch, President and CEO, Americans for the Arts, states: “When communities invest in the arts, there is a tendency to think that they are opting for cultural benefits at the expense of economic benefit. This study demonstrates that the arts are an industry that generates extraordinary economic activity, jobs, and tax revenues. When we say that the arts mean business, that’s not just a slogan; it’s the truth.”

The Chesapeake Business Community and the City Government are aware of the economic benefits of investing in the arts and continue to be strong supporters of the activities of the Fine Arts Commission.

Fine Arts Commission grants also contributed to "OpSail 2000" international entertainment
and the Major Hillard Library bronze statue "Read to Me"