Creative and Cultural Institutions Serve as Record-Breaking Economic Driver
Total economic activity in 2017 reached the highest amount ever reported by CBCA
Conducted every other year, the Colorado Business Committee for the Arts (CBCA) publicly unveiled its most recent Economic Activity Study of Metro Denver Culture, illustrating record-breaking employment in the nonprofit cultural sector, an increase in new tourism dollars and increasing attendance at creative institutions around the city.
Total economic impact – or new money in the region – hit $573 million, including a record-breaking $400 million in economic impact from cultural tourism.
"Arts and culture is a vital economic driver for the region," says Christin Crampton Day, executive director of CBCA. "CBCA's latest economic activity study demonstrates that the Denver metro area is a growing arts hub and cultural tourism destination, as well as a viable employment sector."
Total economic activity, which comprises direct and indirect spending from operations, audiences and capital projects, reached $1.9 billion in 2017, the highest amount ever reported by CBCA.
CBCA has been reporting on the economic significance of the arts since 1992. The research assesses financial and social contributions derived from the arts, cultural and scientific nonprofits throughout the seven-county metro area.
In the stretch from 2015 to 2017:
JOBS: 11,820 JOBS (10 percent increase)
GIVING TO THE ARTS: $182.6 million (3.5 percent increase)
ATTENDANCE: 15 million people (8.5 percent increase)
EDUCATION OUTREACH: 4.3 million school children (8.5 percent increase)
The continued success of the arts is attributed to the citizen-supported Scientific and Cultural Facilities District – a tax district that funds arts, cultural and scientific organizations in metro Denver.