A study reveals the importance of art and culture for New Hampshire’s economy

Concord, 19 March 2013, Art media Agency (AMA).

An article published on Bloomberg Business Week unveiled the results of a study concerning the importance of art and culture for the economy.

While non-profit art institutions and cultural organisations insist on their positive impact on the economy, hence the utility of financing this kind of activity, they did not have convincing data at their disposal. NH Forum, located in Concord, New Hampshire explored this subject.

The study published last Autumn by the Americans for the Arts Society included different data from New Hampshire. It featured 162 organisations that provided detailed financial statements proving to have supported economical activity by employing 3,500 people and generating a turnover of $11.6m for the local collectives and the state. Economical importance of these activities in 2012 reached $115m.

The report also features earnings created by artistic and cultural events, such as evenings at hotels or restaurants that created an average income of $22 per participant. Outside visitors that represent around 20% of the public spent even more.

Paul Hodes, appointed by the Obama administration as a member of the National Council of Arts, explains “The economy of the future is a creative economy, that needs investing, including in education.”