CINCINNATI, Jan. 17, 2024 (GLOBE NEWSWIRE) -- ArtsWave and the Cincinnati Regional Chamber have unveiled an all-new study on the arts’ impact in Greater Cincinnati from 2019-2023. Authored by the Cincinnati Regional Chamber’s Center for Research and Data, the report found that over that four-year span, Cincy’s arts and culture sector had a total economic impact of $1.6 Billion.
“Intuitively our team knew that the impact was large,” says Brandon Rudd, Director of the Center for Research & Data, “but after doing this study, we now know for sure that ArtsWave and a vibrant arts sector are vital to the Cincinnati region’s economy.”
Recent national studies validate this. The Cincinnati region ranked 11th among the 20 most arts-vibrant large communities in the country, while only being the 28th most populous metro area. In addition, the region’s arts sector has a 1.48 industry location quotient, meaning it has 48% more jobs in the industry than would be expected for a region of its size.
The strength and vibrancy of Cincinnati’s arts reflect nearly a century of community support through ArtsWave, something unique to our region. “Support from the annual ArtsWave Community Campaign provides a strong foundation from which the arts can benefit our communities in myriad social and educational ways,” says Alecia Kintner, ArtsWave President & CEO. “With this report, we also affirm the significant economic impact that the Cincinnati region’s arts organizations make through their direct expenditures, ancillary revenue created by that spending, employment, and taxes generated.”
Among other analyses, the study looked at the economic impact of the ten largest organizations led by or predominantly for Black, Brown, Indigenous and People of Color (BIPOC). While the total economic impact of these organizations was about $15 million in 2022, the underlying context is one of outsized growth. Over the four years included in the study, these BIPOC organizations’ total impact grew by 26%, compared to 19% for all arts organizations, and the number of jobs created or supported grew by approximately 53% during that same period – much higher than the 7.4% growth for all arts organizations. With time and investment, more of these organizations could become household names for generations of Cincinnatians to come.
RESOURCES: Download the report or view it online here.
Media Contact: Jackie Reau, Game Day
(513) 708-5822m jreau@gamedaypr.com
