Surprising Stats on the Economic Impact of Culture

graph on Denver activitiesVisitors to Denver owe thanks to the forward thinking voters in Denver Zoo Gorilla1988 who approved a one-tenth of one percent sales tax increase to support scientific and cultural facilities within the metro area.  The SCFD  (Scientific & Cultural Facilities District) was created to provide funding to scientific and cultural organizations.   The results have been bountiful.

 Last year Denver's expanding culture scene received a HUGE gain to the economy.  As per data compiled by Deloitte Consulting that amount was $1.400,000,000 (yes $1.4 BILLION)!

The Rocky Mountain News article of 10-26-2006 indicated 14 million people spent $785 million on everything including tickets, parking and baby sitters.

The 14 million visitors to cultural events outnumber the 4.5 million who attend professional sporting events!  The lure of culture has a great impact beyond the venue, people end up spending money on their way to an event, while they are there and then on the way home.

Since 1988 6,300 jobs have been created, bringing the industry job total to 10,800 people. Cultural jobs combined lead Denver's top employers; Lockheed Martin (7,700), HealthOne (7,900), Wal-Mart (7,900), King Soopers (8,600) and Qwest (9,500).

Recipient organizations of the SCFD are divided into three tiers.  Tier I includes the Denver Art Museum , the Cultural impact in billions graph for SCFD ColoradoDenver Botanic Gardens , the Denver Museum of Nature and Science , the Denver Zoo , and the Denver Center for the Performing Arts.

Tier II includes 25 regional organizations.  Tier III has more than 280 local organizations such as orchestras, small theaters, art centers and natural history, cultural history and community groups.

The SCFD tax is a "sale and use tax", almost 2.4 million visitors defray the cost by spending their millions of dollars on tourism. 

Was it worth it? Absolutely! Cultural events have attracted over 14 million people, twice the population of Colorado in 2005.  The arts and sciences are an important part of our culture, having strong support helps it grow and puts Colorado and the Denver region in the limelight of the world.

To Quote the SCFD website, "It is a remarkable form of self-investment that pays incredible dividends for Colorado."

 2006-2007 Free Days  Search Cultural Events

 

 

Colorado Cultural Tourism Graph 2005

 

 

 

 

 

 

 

 

 

 

 

 

 

 

For more information about Denver Real estate and relocation to the Denver Metro area...

 
This post has been included in Colorado Information

8 Comments on Surprising Stats on the Economic Impact of Culture

Kristal- Would you be so kind as to post this in my "economics group?

11/29/2006 11:45 PM by America's #1 Mortgage Broker


Now this is a really excellent and informative post!  I'm grateful you took the time to detail the issue and at least one potential solution.  Thanks for the post!

11/30/2006 01:41 AM by Suzanne Marriott, Associate Broker, CLHMS, e-PRO (Keller Williams Realty Professional Partners)


So true, and so few know it. Areas spend beaucoup dollars on sports, but the economic impact is far greater from cultural event and the arts. People also tend to stay longer, meaning a hotel and restaurants, and spend outside the venue.

11/30/2006 04:11 AM by Sharon Simms St Pete Florida CRS CIPS CLHMS (RE/MAX Metro)


Back when new taxpayer-supported stadiums were the topic of the moment, an interesting fact came out of the discussion/debate: attendance for the various cultural venues, museums, live theater, orchestra & other musical events, fringe festivals, etc. FAR outstripped the combined attendance of all our pro-sports (Vikings, Twins, Timberwolves, Wild, et al) combined.

Both have an important place at the “quality of life” table.

Jay Merton

11/30/2006 05:27 AM by Jay Merton & Medford Ambrose, the Codgers (Retired Handymen)


Brian ~ done. :)

Suzanne ~ you are dittoing.

Sharon ~ To tell you the truth I was stunned by the numbers.  Culture is economically better than SKIING? 

Jay ~ you are so right about the "quality of life" importance.  Different strokes for different folks, but something for everyone!

Thanks all for your comments.

kk

11/30/2006 07:30 AM by Kristal Kraft ~ Denver Real Estate (The Berkshire Group Realtors)


Wow, that was really interesting. I was surprised too.

11/30/2006 05:35 PM by Athol Kay


I just puff up with pride whenever you post about our fair capitol city! 

Before I moved away I used to go to the Nutcracker every year, tons of classical concerts ballets jazz and blues venues and theatrical plays. Now with 2 young children and a husband who snores during Rachmaninov I long for that life again.  I can't wait till my girls are older and we can get all dressed up for the Nutcracker just like I did with my mom.

11/30/2006 07:32 PM by Jessica Hughes (Ambiance Staging)


Athol Kay ~ it's always fun to be surprising, but it's so surprising... :)

Jessica ~ Oh that will be so fun.  Your girls will always remember it just as you do now.  Have you taken them to the Children's Museum?  It shouldn't be missed.  I want to take my Grandsons...soon!

kk

12/01/2006 07:36 AM by Kristal Kraft ~ Denver Real Estate (The Berkshire Group Realtors)


Leave a response…

Name:
Notify me of new comments:
Comment:
What does the graphic say?
 
Real Estate Agent: Kristal Kraft  ~ Denver Real Estate (The Berkshire Group Realtors)
Kristal Kraft ~ Denver Real Estate
Denver, CO
More about me…
The Berkshire Group Realtors

Office Phone: (303) 953-5222
Cell Phone: (303) 589-2022
Email Me

Soapbox musings for and about Denver relocation and real estate.


Follow Me On Twitter
Follow KrisTalk on Twitter

Denver Real Estate

Denver I Q

Denver Relocation




Denver Real Estate

Join Active Rain... Click Here!

Add to Technorati Favorites

Kristal Kraft Home Gain Blog

Denver Real Estate





Denver Real Estate





Links

Tags (Tag Cloud)

Archives

RSS 2.0 Feed for this blog
ATOM 1.0 Feed for this blog

Find CO real estate agents and Denver real estate here on ActiveRain.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
© 2007 ActiveRain Corp. All Rights Reserved