The Economic Impact of Nonprofit Arts and Cultural Organizations and Their Audiences in the city of Lake Worth, Florida.
The Arts & Economic Prosperity 5 study provides compelling evidence that the nonprofit arts and culture sector is a $27.3 million industry in the City of Lake Worth—one that supports 650 full-time equivalent jobs and generates $2.7 million in local and state government revenue.
Nonprofit arts and cultural organizations, which spent $14.7 million during 2015, leveraged a remarkable $12.6 million in additional spending by their audiences—spending that pumped vital revenue into restaurants, hotels, retail stores, parking garages, and other local businesses.
By proving that investing in the arts and culture yields economic benefits, Arts & Economic Prosperity 5 lays to rest the misconception that communities support arts and culture at the expense of local economic development. In fact, communities that support the arts and culture not only enhance their quality of life—they also invest in their economic well-being.
The arts mean business in the City of Lake Worth!