New Research Uncovers Economic Influence of $271 Million Generated by the Nonprofit Arts and Culture Sector in Albuquerque
The City of Albuquerque’s Department of Arts & Culture has announced that Albuquerque’s nonprofit arts and culture industry generated $270.7 million in economic activity in 2022. This statement is according to the newly released Arts & Economic Prosperity 6 (AEP6), an economic and social impact study conducted by Americans for the Arts. It also shows that the economic activity supported 3,902 jobs, provided $144.4 million in personal income to residents, and generated $40.1 million in local, state, and federal government revenue. A breakdown of that activity would include $129.1 million in spending by nonprofit arts and culture organizations and $141.5 million in event-related spending by their audiences.
Spending by arts and culture audiences generates valuable commerce to local merchants, a value-add that few other industries can compete with.
Building on its 30-year legacy as the largest and most inclusive study of its kind, AEP6 uses a rigorous methodology to document the economic and social contributions of the nation’s nonprofit arts and culture industry. The study demonstrates locally as well as nationally, arts and culture are a critical economic driver of vibrant communities.
“I am inspired by the findings of the AEP6 study, which underscores the important impact of arts and culture on our local community,” explains Dr. Shelle Sanchez, director of Arts & Culture. “This research demonstrates that the arts are not only a vibrant source of creativity and self-expression but also a vital driver of economic growth. Arts and culture significantly bolsters our local economy, generating jobs, attracting tourism, and stimulating local businesses.”
Nationally, the Arts & Economic Prosperity 6 (AEP6) study reveals that America’s nonprofit arts and culture sector is a $151.7 billion industry—one that supports 2.6 million jobs and generates $29.1 billion in government revenue.
“Arts and culture organizations have a powerful ability to attract and hold dollars in the community longer. They employ people locally, purchase goods and services from nearby businesses, and produce the authentic cultural experiences that are magnets for visitors, tourists, and new residents,” said Nolen V. Bivens, president and CEO of Americans for the Arts. “When we invest in nonprofit arts and culture, we strengthen our economy and build more livable communities.”
The complete Albuquerque report can be viewed here. The full report, a map of the 373 study regions, and a two-page economic impact summary for each, can be found at www.AEP6.AmericansForTheArts.org.