Economic Impact of Cultural Tourism In Central Indiana: Why The Arts Matter

By
Real Estate Agent with Atlas Property Group and Abbey Church Properties

I have posted prior blogs regarding the love my partner and I share for the Arts. It is a well recognized phenomenon that exposure to the Arts, which includes visual, performing, and literary arts, is a direct causative agent for many positive things such as increased cognitive function and increased emotional well-being.

But were you aware of the economic impact that Arts and Culture bring to a community?

According to a 2008 study by the Ball State University (Muncie, Indiana) Center for Business and Economic             Research, the number of persons in the State of Indiana employed in the Arts or an Arts related business was 43,296. More than 25% of those jobs were in Marion County (Indianapolis, IN)

Due to the amount of subsequent jobs that occurred as a result of cultural tourism, the total employment impact was over 80,000 jobs.

The total value of goods and services relating to Culture and the Arts was nearly 5 million dollars. Yes, my friends, in the great state of Indiana , that was a "5" with 6 zeros behind it.

That means that the total economic impact came to:

Drum roll, please:

                                                           Over 9 BILLION dollars.                                                          

                   Yep, that's what I said: 9 and I don't know how many zero billion dollars.

So why should a Realtor care?

Well, even if you are not a lover or supporter of the Arts, these are mega dollars.  In fact, these are more dollars than most major league sports teams generate, including the Indiana Pacers, the Indianapolis Colts, and the Indianapolis Indians COMBINED!

OK, so exactly WHY is it you should care?

Because, my friends, companies who relocate to or expand in your area care. In economic development parlance that's called "quality of life".

And companies want to be where there's quality of life for their employees and executives. The corporate hierarchy believe, and rightfully so, that they can attract the best of the best if they are located in an area that offers the best of the best.

We are proud to live and work in an area that appreciates and supports the best of the best.

Today, as an example, the Indianapolis Museum of Art is opening its Virginia H. Fairbanks Art and Nature Park. At 100 acres it is the largest sculptural park in the nation.

Join us in Central Indiana. If you have any questions regarding our quality of life, amenities, relocating, or just want to know more, contact THE commercial AND residential specialists in Central Indiana, Atlas Property Group, LLC at 317-882-2901. Or visit us online at www.AtlasPropertyGroupOnline.com.

Comments (4)

Jerri McCombs, Broker/Owner
Dogwood Real Estate Services - Hendersonville, NC
Hendersonville Living

Good point. The arts are very important to relocation and bringing in big new business. How lucky you are to be in such a great area.

Jun 20, 2010 02:20 PM
Pat Haddad, ABR, CRS, ePRO, GRI
Keller Williams Indianapolis Metro NE - Carmel, IN
Carmel, Fishers, Westfield IN Real Estate Expert

Wow Lisa!  Who knew?!  I guess Indiana can hold its own among the best of them!  Makes me proud to be a Hoosier!

Jun 22, 2010 09:33 AM
Charlie Gantz
Keller Williams Commercial, Tampa Bay - Saint Petersburg, FL
J.D., M.B.A.

Great post from a great partner.  Charlie Gantz, Greenwood, IN; J.D., M.B.A.; Owner/Principal Broker, Atlas Property Group, LLC

Jun 29, 2010 03:29 AM
Kevin Henry
Henry Realty - Fort Wayne, IN

Love the stats. We in Fort wayne uphold the Arts also. They play a big part in our community.

Jul 01, 2010 09:27 AM