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Jersey City Economy Gets Big Boost from Nonprofit Arts & Culture Sector with $46 Million Generated in 2022
National Study Highlights Fulop Administration’s Efforts to Prioritize Equitable Opportunities in Arts & Culture, Just Last Year Creating:
- Over 530 Jobs
- $28 Million in Residents’ Personal Income
- $7 Million in Tax Revenues
JERSEY CITY, NJ — Mayor Steven M. Fulop joins the Office of Cultural Affairs to highlight the newly released findings that Jersey City’s arts and culture sector generated $46 million in economic activity during 2022, according to a nationwide study by Americans for the Arts. Arts and culture organizations accounted for $13.5 million in spending, with an additional $32.4 million in event-related expenditures by their audiences. These impactful findings from the newly released study highlight the Fulop Administration’s efforts to attract interest and investment in Jersey City as a growing regional hub for the arts and cultural happenings under Mayor Fulop’s leadership.
According to the nationwide study, in 2022, arts and culture economic activity supported 532 jobs, provided $28.2 million in personal income to residents, and generated $7.1 million in tax revenue to local, state, and federal governments.
“These numbers are staggering but not surprising. We recognized early on that the arts have significant economic and social benefits and play a key role in creating a vibrant and livable community rich with culture and fostering relationships between sectors and people across our diverse City,” said Mayor Fulop. “We are talking about impactful economic activity before we even open the doors to several major projects that are in the pipeline – such as the Loew’s Theatre restoration, Centre Pompidou x Jersey City, Apple Tree House, and Toll Theater – which will undoubtedly send revenues skyrocketing to new heights for Jersey City.”
The economic and social impact study, titled Arts & Economic Prosperity 6, demonstrates the significant economic and social benefits that equitable access to arts and culture can bring to communities, states, and the nation.
Jersey City’s nonprofit arts and culture industry generated $59.53 per person in economic activity in 2022 (above event or ticket price) and $65 for out-of-town visitors – well above the national average of $38.46. Additionally, revenue increased over 20% from 2017 when the Arts & Economic Prosperity 5 study calculated the average amount spent in Jersey City over ticket prices was $32 per person.
The impactful economic increases come after the Fulop Administration worked to implement meaningful initiatives that support artists and arts organizations and create equitable access throughout Jersey City – one of the biggest efforts being the Arts and Culture Trust Fund. The annual tax received strong voter support in November 2020, and now generates approximately $1 million in annual revenue for arts and cultural programs, quadrupling the amount that all of Hudson County receives from the State each year. In just two years, nearly $2 million in grants have been allocated to nearly 200 Jersey City artists and arts organizations.
“Arts and culture organizations have a powerful ability to attract and hold dollars in the community longer. They employ people locally, purchase goods and services from nearby businesses, and produce the authentic cultural experiences that are magnets for visitors, tourists, and new residents,” said Nolen V. Bivens, President and CEO of Americans for the Arts. “When we invest in nonprofit arts and culture, we strengthen our economy and build more livable communities.”
In addition to Jersey City’s successful efforts to prioritize equity, community engagement, and inclusivity, the study’s total economic impact also considers spending by nonprofit arts organizations and patron-related spending in the local economy, including dining, shopping, hotels, and the like.
“The fact that we had $46 million pumped into our local community in just one year only reinforces our efforts to promote arts and culture throughout Jersey City. The benefits of equitable access to the arts clearly expand well beyond the human experience. So much of our community gains from patron-related spending in the local economy, including our local businesses, restaurants, hotels, shops, vendors, and countless others who are directly or indirectly supported,” concluded Christine Goodman, Director of the Office of Cultural Affairs.
Nationally, the Arts & Economic Prosperity 6 study reveals that America’s nonprofit arts and culture sector is a $151.7 billion industry that supports 2.6 million jobs and generates $29.1 billion in government revenue. A map of the 373 study regions along with the full report can be found on the Americans for the Arts website here.
About the Arts & Economic Prosperity 6 Study
The Arts & Economic Prosperity 6 (AEP6) study was conducted by Americans for the Arts, the nation’s leading nonprofit organization for advancing the arts and arts education. Building on its 30-year legacy as the largest and most inclusive study of its kind, AEP6 uses a rigorous methodology to document the economic and social contributions of the nation’s nonprofit arts and culture industry. The study demonstrates locally as well as nationally, arts and culture are a critical economic driver of vibrant communities. It was supported by The Ruth Lilly Endowment Fund of Americans for the Arts. Americans for the Arts’ 297 study partners contributed both time and financial support to the study.
All media inquiries should be directed to Kimberly Scalcione at KScalcione@jcnj.org.