Victoria, BC – Five organizations announced the results of an economic activity study done on arts and culture in Greater Victoria today, showing that the sector generated total economic activity of $170 million in 2010.
“This study shows that the arts and culture sector is a significant contributor to our localeconomy,“ said CRD Arts Committee chair Vicki Sanders. “It underlines how important the arts are in building our communities and in contributing to a quality of life that makes the capital region a great place to live.”
Economic activity reflects the contribution that industry and patron expenditures have on the Greater Victoria and BC economies. This spending contributed $170 million in GDP (Gross Domestic Product) to the BC economy, supported the equivalent of 5,440 person years of employment, and those jobs generated $21 million in annual property tax revenue.
“Arts and culture make a community a vibrant and enriching place to live,” said Victoria
Foundation CEO Sandra Richardson. “By attending, participating in and supporting the arts, we are contributing to both the Region’s social and economic well-being.”
Dr. Brock Smith of the Peter B. Gustavson School of Business at the University of Victoria did the study at the request of the Victoria Foundation, the CRD Arts Development Service, the Greater Victoria Development Agency, ProArt Alliance and Tourism Victoria.
"At a time when economic recovery and employment are at the forefront of local, provincial and national strategies, these figures speak volumes about the importance and necessity of investing in the arts - not only for our quality of life, but for our ability to thrive economically," said Mitchell Krieger, vice-president of the ProArt Alliance.
Total economic activity was calculated by collecting data from artists, hobbyists, arts businesses and arts and culture organizations, as well as people attending arts events, and then conservatively extrapolating it for the sector as a whole.
- 30 -
Media Information Contact:
James Lam, CRD Arts Development Service
The full report: 2011 Greater Victoria Arts and Culture Economic Activity Study is available at CRD Arts
Partners in Measuring the Economic Impact Activity of the Arts in Greater Victoria include:
- The Capital Regional District
- Greater Victoria Development Agency
- ProArt Alliance
- Tourism Victoria
- Victoria Foundation