This study quantifies the MetroWest Creative Economy by analyzing data from 21 participating arts and culture organizations, all of whom are members of the MetroWest Tourism and Visitors Bureau.

MetroWest Tourism & Visitors BureauEconomic Impact Analysis

April, 2013

What is the Creative Economy?

The economic activity, such as jobs, financial transactions, and wealth creation, generated by businesses and non-profit organizations of a

creative or cultural nature

What Contributes to Economic Impact?

• Operating Budget• Attendance by Out-of-Region Visitors

• Employees• Investments

• These dollars initially spent by a creative organization spread out into the community, creating a “ripple effect” that adds up to the Total Economic Impact.

We used 2 validated models to calculate economic impact, and averaged the results to improve our study’s reliability• AFTA – (Americans for the Arts) Arts and

Economic Prosperity Initiative - nationally focused

• C3D – (Center for Creative Community

Development ) and New England Foundation for the Arts’ Culture Count Initiative (regionally focused)

The overall economic impact of the 21 MetroWest cultural organizations in this study is nearly $375

Million and 4000 jobs over 5 years.

Cumulative Impact: 2012-2016

Economic Impact: $374,918,000 over five years

Employment Impact: 3967 full-time equivalent employees over five years

Net Present Value: $272,404,000 with an assumed discount rate of 6% per year

Annual Economic Impact

Average Annual Increase: $8,105,816 per year The economic impact is cumulative, summing

to nearly $400M over five years

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Susan Nicholl, Executive Director Ann Budner & Nate ChenenkoMetroWest Tourism & Visitors Bureau Carlisle & Company 508-361-9881 978-318-0500

susan@metrowestvisitors.org abudner@carlisle-co.comwww.metrowestvisitors.org nchenenko@carlisle-co.com

www.carlisle-co.com

These Study Participants Are Just Some of the Arts and Culture Organizations That Contribute to the MetroWest Economy

Amazing Things Arts Center • The Center for Arts in Natick • Commonwealth Ballet • Concord Museum • Danforth Museum of Art • The Discovery Museums • Five Crows • Fountain Street Fine Art • Framingham History Center • Franklin Performing Arts Company • Franklin School for the Performing

Arts • Hopkinton Center for the Arts • Mass Audubon • Museum of Russian Icons • Natick Center Associates • Natick Historical Society • New England Wild Flower Society • Palettes • Spellman

Museum of Stamps & Postal History • Tower Hill Botanic Garden • The Wayside Inn

What Contributes to Employment Impact?

• Both part-time and full-time staff count

• If the arts & culture organization hires contractors or consultants, they count too

• All those workers, in turn, lead to neighboring businesses hiring more workers

• Jobs in creative organizations tend to stay in the local economy

For More Information:

Thanks to Our Generous Sponsors:

Average Annual Increase: 37 full-time equivalent jobs per year

The employment impact is cumulative, summing to nearly 4000 FTE employees over five years

Annual Employment Impact

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2012 2013 2014 2015 2016

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