Surprising Stats on the Economic Impact of Culture

By
Real Estate Agent with The Berkshire Group Realtors

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

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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Rainmaker
311,869
Brian Brady
San Diego VA Home Loans/858-777-9751 - San Diego, CA
858-777-9751
Kristal- Would you be so kind as to post this in my "economics group?
Nov 29, 2006 03:45 PM #1
Rainmaker
402,954
Suzanne Marriott
Keller Williams Arizona Realty - Anthem, AZ
Associate Broker, CLHMS, e-PRO
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!
Nov 29, 2006 05:41 PM #2
Rainmaker
613,288
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS
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.
Nov 29, 2006 08:11 PM #3
Rainer
133,274
Boomer Jack Boardman & Carl McIntyre, the Codgers
Noted Curmudgeons - Saint Paul, MN

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
Nov 29, 2006 09:27 PM #4
Ambassador
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Kristal Kraft
The Berkshire Group Realtors - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

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

Nov 29, 2006 11:30 PM #5
Anonymous
Athol Kay
Wow, that was really interesting. I was surprised too.
Nov 30, 2006 09:35 AM #6
Rainer
31,280
Jessica Hughes
Ambiance Staging - Boulder, CO

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.

Nov 30, 2006 11:32 AM #7
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Kristal Kraft
The Berkshire Group Realtors - Denver, CO
Selling Metro Denver Real Estate - 303-589-2022

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

Nov 30, 2006 11:36 PM #8
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