The arts provide inspiration and joy to residents, beautify public spaces, and strengthen the social fabric of our communities. Nonprofit arts and cultural organizations are also vibrant, productive businesses. They employ people locally, purchase goods and services from other local businesses, and attract tourists, businesses, and new residents to our area.
When patrons attend a cultural event, they may pay to park their car, purchase dinner at a restaurant, shop in nearby stores, and eat dessert after the show. Attendees from out of town often spend the night in a hotel. This spending generates related commerce for local businesses such as restaurants, parking garages, retail stores, and hotels. Local businesses that cater to arts and culture audiences reap the rewards of this economic activity. Both directly and indirectly, the arts play a leading role boosting Hillsborough County’s economy.
According to the latest report of the Arts and Cultural Production Satellite Account (ACPSA), produced by the Bureau of Economic Analysis and the National Endowment for the Arts, the arts and cultural sector contributed $804.2 billion or 4.3 percent to the nation’s gross domestic product (GDP) per year—nearly five times greater than that of the agricultural sector. The arts and culture do more than bring us joy and inspiration, they also play a significant role in the economic activity of America.