Art and Money

There’s no money in art. Everybody know it: conservatives, liberals, moderates of every strip and hue. Everybody. That’s the number one reason that parents give for discouraging their children from pursuing the arts. They are sure their kids will starve, because it’s common knowledge that there’s no money in the arts.

Except, it’s not true.

Recently two reports were released that challenged this conventional wisdom.  One was 2019 State of the Arts Report for the State of Texas and covered the year 2017. The other was data released by the US Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA) and covered the year 2015. These reports went a long way toward refuting the common mythology concerning art and money.

The BEA/NEA data shows that the arts sector contributed more to the US economy than the construction, transportation and warehousing, travel and tourism, mining and extraction, utilities or agricultural sectors, $763.6 billion to be precise. There are only two sectors that contribute more: retail trade and healthcare and social assistance. That’s nothing to sneeze at. The key findings were these:

  • That $763.6 billion constituted 4.2 percent of the GDP.
  • The arts sector involves 4.9 million workers who earned $372 billion in total compensation
  • The arts added “four time more to the U.S. economy than the agricultural sector and $200 billion more than transportation or warehousing.”
  • The arts had a $20 billion trade surplus.
  • Between 2012 and 2015 the arts had an “average growth rate of 2.6 percent, slightly higher than 2.4 percent for the nation’s overall economy.” The growth rate was 4.9 percent between 2014 and 2015.

Texas, unlike some other states, is not mentioned in the BEA/NEA report. However, Texans have their own state-level report. Here are the key findings from that report:

  • The arts industry in Texas generated $5.59 billion in 2017.
  • That amount generated “nearly $350 million in tax revenue.”
  • “Houston and Dallas each generated nearly $1 billion.”
  • “Austin and San Antonio each generated more than $350 million.”
  • The “arts-and-culture industry” has grown 15.5 percent during the last 10 years.
  • The arts sector of the Texas economy employs “nearly 800,000” people.
  • Arts jobs are projected to grow by 17 percent by 2026

And this in a state that “is 41st in arts funding among all U.S. states.

It should be obvious that the impact of the arts at both the state and national level is tremendous. In fact, Robert L. Lynch, the CEO and president of Americans for the Arts, has said “The U.S. [BEA’s] research makes clear that, if you care about jobs and the economy and infrastructure, you need to care about the arts. Strategic investment in our arts and cultural organizations is not an extra, it’s a path to prosperity.” The BEA/NEA data is illustrated in a series of charts and tables and is broken down by states.

And the value of the arts is not just dollars. Research indicates that in Texas “students enrolled in arts courses attend school more regularly, have a 15% higher pass rate on standardized tests, are more likely to stay in school, graduate, and attend college.” Data also shows that “art in hospital settings can reduce patient anxiety, pain, length of stay, and readmissions.

So the next time you hear someone say that arts are a waste of time and energy and that no one can possible make a living in the arts, point that person to the data that tell us that the opposite is true. The arts have a huge impact on American life and economy. The arts matter—in more ways than we realize.

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Date: Sunday, 17. March 2019 23:38
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