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Arts and Cultural Organizations Projected to Contribute More Than $828.5 Million to North Texas Economy During 2006; North Texas Business for Culture and the Arts and Deloitte Announce 2006 Economic Impact Study

Arts and Cultural Organizations Projected to Contribute More Than $828.5 Million to North Texas Economy During 2006; North Texas Business for Culture and the Arts and Deloitte Announce 2006 Economic Impact Study

Published 03-28-06

Submitted by North Texas Business for Culture and the Arts

DALLAS--(BUSINESS WIRE)--March 28, 2006--North Texas Business for
Culture and the Arts (NTBCA) and many business leaders view the arts industry as a major economic enhancement for the region. It's no coincidence that the highest ratings for livability traditionally go to cities noted for utilizing cultural drivers for economic development.

Nonprofit arts and cultural organizations in North Texas are projected to add more than $828.5 million to the region's economy in 2006. Approximately $700.7 million was added in 2004 and $795.4 million in 2005 according to a study by NTBCA and Deloitte released today, available on-line at www.ntbca.org.

"The NTBCA is a strong voice for this region's creative economy," said Pat Porter, NTBCA CEO. "We want to define this area as one that welcomes new and creative industries. In this information age, creative industries are the high octane fuel for economic development."

Economic impact is measured by operations of arts entities, construction related to new and existing facilities and indirect audience spending (i.e., restaurants and parking) associated with attendance at arts events. The 2006 numbers reflect an 87 percent increase over the $442 million shown in the first study, completed in 1990. Over the past fifteen years, study results have provided conclusive proof that the arts have generated an extraordinary public/private partnership that has made an overall economic impact of $7 billion.

This study is intended to solicit both quantitative economic and operating data and subjective opinion information from all arts and cultural organizations in North Texas.

"Deloitte has proudly partnered with the NTBCA to produce an Economic Impact Study of the Arts every three years since 1990," said Roger Nanney, vice chairman and regional managing partner, Mid-America, Deloitte & Touche USA LLP. "These studies clearly point out the importance of the arts to our community. A healthy, vibrant cultural community will help us continue to attract the best businesses and the brightest minds to our region."

BACKGROUND: North Texas Business for Culture and the Arts (NTBCA) is a nonprofit organization founded in 1988 by local businesses committed to expanding business support for and involvement in arts and cultural organizations. www.ntbca.org

Copyright Business Wire 2006

North Texas Business for Culture and the Arts

North Texas Business for Culture and the Arts

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