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"The creative
industries offer numerous benefits to state economies, and states have an opportunity to both improve
livability and boost
state and local economies
by investing in the arts and culture."
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Local leaders
understand the economic impact of the arts.
"Rahway is
positioning itself to take full advantage of the visual and
performing arts that will provide long-term
employment and economic development as well as sustain an enviable
quality of life that will benefit all of our residents and visitors.
Laying the groundwork for a sustainable arts industry in Rahway will be our own
economic stimulus plan."
Rahway
Mayor James Kennedy during his 2010 State of the City address
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A
Vital Component in Economic Development
Arts and culture are important forces
behind some of the most successful cities, towns and rural areas across
the state and the nation. In New
Jersey, arts organizations supported by the return $3 in State tax
revenue for every $1 invested. Funding for grants awarded by the Arts
Council comes from a dedicated revenue source - the . Bolstered tourism,
thriving businesses, job opportunities and increased overall quality of
life are among the other returns from strategic investment in the arts.
Here are the facts:
- Arts activity
stimulates $1.2 billion
in economic activity each year
- The arts
community supports 17,000 businesses and 77,000 jobs
- Investment in
the arts means $41 million in State tax revenue
- 34,000 arts events attract 18 million attendees who spend more than $400 million in the local economy
, and the findings based on
information gathered
from
State Arts Council grantees
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has now been established
for 10 years. Even during a difficult economy in 2009, there was a net
increase of new businesses totaling 16 and 99 new jobs were created.
There are a total of 152 private businesses and the vacancy rate at the
end of 2009 was 8% (down from 11.5% at the end of 2008). Over the 10
years private investment in real estate, rehabilitation and new
construction equals $23,434,112 and public investment is nearly
$5,000,000.
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Learn More About the Role of the Arts In Economic
Development
Join
hundreds of Arts Plan
NJ endorsers
in building a better NJ
through the arts!
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