Metro Denver’s cultural institutions generated $1.4 billion in economic activity and attracted 14.1 million people in 2005, according to a study released today by the Colorado Business Committee for the Arts.
That’s up from 2003, when they provided $1.3 billion in economic activity and brought in 11.3 million attendees.
In 1992, the first year the study was conducted, the economic activity level was at $461 million.
“We’ve seen an ongoing incremental improvement,” said Deborah Jordy, executive director of the committee. “And I think we’re going to see significant increases going forward because we really are creating a world-class cultural infrastructure.”
The biennial Economic Activity Study of Metro Denver Culture analyzed data from more 300 nonprofits funded through the Scientific & Cultural Facilities District tax.
The $38.3 million SCFD investment, which is generated by metro-area taxpayers, returned $387 million in new money to the local economy, or a 10-to-1 return on investment, the study found.
That includes $334 million generated by the 2.4 million cultural tourists who came from outside the metro area.
The report also shows:
Cultural and scientific nonprofits employ 10,800 people locally and pay $95 million in wages and more than $16 million in various taxes.
A total of 39,000 individuals spent 1.7 million hours volunteering at area cultural organizations.
Staff writer Julie Dunn can be reached at 303-954-1592 or at jdunn@denverpost.com.
