CBCA 2008 Economic Activity Study of Denver Metro Culture
Shows Positive Impact of Arts and Culture on Metro Area Economy
Denver, CO — Denver's arts and cultural community created $1.691 billion in economic activity in 2007, up 19% from 2005, according to a report released today by the Colorado Business Committee for the Arts (CBCA). Over 16.4 million Coloradans and other visitors attended cultural events in 2007, including 3.5 million contacts with school children. Nearly $331 million was generated from cultural tourism at area arts, cultural and scientific institutions.

City leaders presented findings of the study at a breakfast at Palettes restaurant this morning. Denver Mayor John Hickenlooper commented, "Documenting the economic contributions of arts, cultural and scientific organizations focuses attention on their value as businesses, not only as vehicles for entertainment or education. Their success is a key component of the economic vitality of the entire metro region."

The 2008 CBCA Economic Activity Study of Metro Denver Culture reflects information collected in 2007 from 93% of the nonprofits funded by Scientific Cultural Facilities District (SCFD) across the seven-county metro area including Adams, Arapahoe, Boulder, Broomfield, Denver, Douglas and Jefferson counties. The data was analyzed by Deloitte Consulting LLP and DualDraw LLC.

This year the study also looked back at growth from 1997 through 2007. Total cultural economic activity and attendance at events more than doubled. In addition, jobs attributable to arts, cultural and scientific nonprofits increased 76% with a corresponding 49% increase in payroll over the ten year period.

"For 18 years, CBCA has conducted the biennial Economic Activity Study because we know that arts, cultural and scientific nonprofits are significant businesses in the region. Their operations contribute to local economic development every day," said Deborah Jordy, CBCA Executive Director. She added, "Arts organizations also have a larger impact by the role they play in strengthening cultural tourism. The spending associated with it further stimulates our economy."

James Harrington, SCFD Board Chair said, "SCFD organizations work very hard to ensure that the residents of the seven-county region see a positive return on their investment. The trends illustrated in the 2008 CBCA Economic Activity Study of Metro Denver Culture indicate that there is more access to and community participation in the greater Denver metro area arts and cultural events than ever before."

"People may not stop to consider that theaters, museums and other arts, cultural and scientific nonprofits are businesses. They employ artists, but also operations staff and management professionals; they contract for services and pay taxes. Our arts and cultural community continues to attract new capital from outside the region. This grows the economy as well as adding to the fabric of the community," said Tom Clark, Executive Vice President of the Denver Metro Chamber of Commerce and Metro Denver Economic Development Corporation.

The 2008 CBCA Economic Activity Study of Metro Denver Culture is generously supported by U.S. Bank, Denver Metro Chamber of Commerce, Whiting Petroleum, Denver Metro Convention and Visitors Bureau and our partners at Deloitte Consulting, DualDraw, SCFD and The Publishing House.

For more information contact: Susan Beyda, CBCA Membership and Communications Director at 303-282-5129 or email sbeyda@cbca.org

Read the entire Press Release.