A study led by Americans for the Arts and conducted by economists from the Georgia Institute of Technology (GTI) shows that nonprofit arts and cultural organizations in Forsyth County are having a huge impact on the local economy.
Randy Cohen
Vice President of Research and Policy at Americans for the Arts, announced the results of the local component of the nationwide Arts and Economic Prosperity 5 Study.
The Arts and Economic Prosperity 5 Study was conducted using budgetary figures from 2015 and cultural audience surveys in 2016. The figures show that combined spending by the nonprofit art and cultural sector in Forsyth County and their audiences was $156.8 million, up some $20 million from five years ago when the last study was made.
“It is abundantly clear from this benchmark study that arts and culture is an economic driver in Winston-Salem and Forsyth County and ‘City of Arts and Innovation’ is more than a tagline,” said Jim Sparrow, President and CEO of The Arts Council of Winston-Salem and Forsyth County which commissioned the study’s local component.
Forsyth’s nonprofit arts and culture industry supports 5,559 full time equivalent jobs, up from 4,769; accounts for more than $129 million in resident household income; and generated more than $14.8 million in local and state tax revenues. In every category, Forsyth County substantially exceeded the median of similar study regions and the national median.
About 60 percent of Forsyth County nonprofit arts and cultural organizations participated in the study and nearly 800 event goers were surveyed about their spending. In addition to the price of tickets, they averaged spending $21.38 per person, all dollars that went into the local economy. About 65 percent of people who attended nonprofit arts and cultural events were residents of the county.
Kristin Cooper
North Carolina’s First Lady and former member of the North Carolina Arts Council, participated in the June 21 luncheon at the Milton Rhodes Center for the Arts.
It was the fourth time the Arts Council paid to have Forsyth County included in the nationwide benchmark study by Americans for the Arts, conducted at five-year intervals. This study has been noted for its credibility which is based on the reputations of internationally recognized economists and statistical models and the input of researchers at Georgia Institute of Technology and elsewhere.
“As mayor, I see the value of the arts from many viewpoints. They make a huge contribution to our quality of life which helps us attract new businesses and retain current ones,” said Winston-Salem Mayor Allen Joines. He noted the number of prominent members of the business community who serve on boards of art and cultural groups.
The study confirmed what arts and cultural agencies have known for decades – volunteers make a tremendous contribution to their operations and sustainability. During 2015, a total of 6,227 volunteers donated 278,974 hours to Forsyth County’s participating organizations. This donation of time has an aggregate value of $6,572,627. The aggregate value of in-kind contributions from individuals, business and others was $1,934,824.
The Arts Council of Winston-Salem and Forsyth County, established in 1949, was the first locally established arts council in the United States.