Study: Tacoma’s nonprofit arts industry generated $28.7 million in tax revenue

(The Center Square) – A new study on Tacoma’s nonprofit arts and culture industry revealed that sector generated $28.7 million in tax revenue and $163 million in economic activity in 2022.

The Arts and Economic Prosperity 6 – also known as AEP6 – study found nonprofit organization event-related spending by audiences generates revenue for local merchants, nearby restaurants, paying to park or for a rideshare, and shopping at local retail stores. In turn, the revenue goes toward supporting jobs, as well as generating household income and tax revenues.

The AEP6 study is conducted every five years by the nonprofit organization, Americans for the Arts. It documents economic and social contributions of nonprofit arts and culture organizations throughout the U.S..

Spending by individual artists and the for-profit arts and culture sector are not included in the study. Examples include for-profit art galleries, theater shows and the motion picture industry.

Out of the $28.7 million in 2022 tax revenue, the study finds $5.2 million goes toward city government revenue, $6.5 million for the state and $17 million for the federal government.

- Advertisement -

During 2022, Tacoma’s Office of Arts and Cultural Vitality had 88 organizations participate in the survey about their fiscal year 2022 expenses and attendance. They reported aggregate expenditures of $87.1 million, which generated total economic impacts of 1,318 jobs, $59.5 million in resident household income and $16.9 million in total tax revenue, according to the survey results.

Spending by nonprofit arts and culture audiences in Tacoma generated a total of $11.8 million in tax revenues, according to the AEP6 study. This brings the total to $28.7 million in generated tax revenue by nonprofit arts and culture activity.

“This study reaffirms what we have always known to be true – that arts and culture are not only essential to our quality of life and our shared identity as a city, they also play an important role in our economic vitality,” Tacoma Mayor Victoria Woodards said in a statement.

spot_img
spot_img

Hot this week

Health care company agrees to pay $22.5 million to settle claims of over billing

A health care company agreed to pay nearly $22.5...

African and Caribbean Nations Call for Reparations for Slave Trade, Propose Global Fund

Nations across Africa and the Caribbean, deeply impacted by...

Sports betting expert offers advice on paying taxes for gambling winnings

(The Center Square) – Tax season is underway, and...

Business association ‘disappointed’ by WA L&I’s proposed workers comp rate hike

(The Center Square) – The Association of Washington Business...

Entertainment district benefits don’t outweigh the cost, economists say

(The Center Square) — Weeks later, after more details...

Former teachers union president sued, accused of $40M campaign cash grab

(The Center Square) – Sean Spiller’s gubernatorial campaign flop...

Group: Proposed Ohio property tax fixes don’t go far enough

(The Center Square) – Recommendations to ease property taxes...

Sales and use tax collections up for Shreveport

(The Center Square) – Shreveport has collected $111 million...

Testimony supports permits for Line 5 reroute in Wisconsin

(The Center Square) – Pat Nemec believes there are...

Virginia raises bar for student proficiency standards

(The Center Square) – Virginia students will soon face...

‘Dignified’ water cremation bill passes House

(The Center Square) – For decades, cremation has been...

More like this
Related

Former teachers union president sued, accused of $40M campaign cash grab

(The Center Square) – Sean Spiller’s gubernatorial campaign flop...

Group: Proposed Ohio property tax fixes don’t go far enough

(The Center Square) – Recommendations to ease property taxes...

Sales and use tax collections up for Shreveport

(The Center Square) – Shreveport has collected $111 million...