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General News    H4'ed 3/10/19

Arts Contribute $760+ Billion to US Economy

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Painter's palette with oil paint and brushes on white background
Painter's palette with oil paint and brushes on white background
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New U.S. government data was released Tuesday by the Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA) showing that the arts contribute more than $760 billion to the U.S. economy.

The arts contribute $763.6 billion to the U.S. economy, more than agriculture, transportation, or warehousing. The arts employ 4.9 million workers across the country with earnings of more than $370 billion. Furthermore, the arts exported $20 billion more than imported, providing a positive trade balance.


"The robust data present in the Arts and Cultural Production Satellite Account show through hard evidence how and where arts and culture contribute value to the economies of communities throughout the nation ... The data confirm that the arts play a meaningful role in our daily lives, including through the jobs we have, the products we purchase, and the experiences we share."

~NEA Chairman Jane Chu

Key findings:

    The arts contributed $763.6 billion to the U.S. economy in 2015, 4.2 percent of GDP and counted 4.9 million workers, who earned $372 billion in total compensation.

    " The arts added four times more to the U.S. economy than the agricultural sector and $200 billion more than transportation or warehousing.

    " The arts saw a $20 billion trade surplus, leading with movies and TV programs and jewelry.

    " The arts trended positively between 2012 and 2015 with an average growth rate of 2.6 percent, slightly higher than 2.4 percent for the nation's overall economy. Between 2014 and 2015, the growth rate was 4.9 percent in inflation-adjusted dollars.

    By Industry

    " Among the fastest-growing industries within the ACPSA are web streaming and web publishing, performing arts presenting, design, and architectural services.

    " Tax-exempt performing arts organizations (those producing art and those presenting the art of others) contributed $9 billion to the U.S. economy and employed 90,000 workers, who earned $5.6 billion in total compensation.

    " Consumers spent $31.6 billion on admissions to performing arts events, $1 billion more than projected.

    " The value added by performing arts presenting (tax-exempt and for-profit) rose by 9.5 percent during the recent three-year period.

    By State

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Meryl Ann Butler is an artist, author, educator and OpedNews Managing Editor who has been actively engaged in utilizing the arts as stepping-stones toward joy-filled wellbeing since she was a hippie. She began writing for OpEdNews in Feb, 2004. She became a Senior Editor in August 2012 and Managing Editor in January, (more...)
 

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