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2012 CREATIVE INDUSTRY ECONOMIC IMPACT STUDY
A study to measure the impact or significance of the creative industry was commissioned by the Cultural Council in the summer of 2011. Its purpose was to explore, document, and quantify the impact of the full range of arts and cultural activity in Indian River County.
The study demonstrates that Indian River County’s creative community is a significant economic force with potential for even greater economic and social impact.
Did you know: In direct economic activity, IRC’s creative industry is a major provider of local jobs, employing 1,729 workers with annual earnings of $59 million, making it equivalent to the 2nd largest employer in the county?
Indian River County is a cultural community that has developed a high impact creative industry, one that compares with large cultural centers and is positioned to drive economic growth for the county.
Did you know: The rate of creative employment in IRC, 4.2%, is about twice that of the national average of 2.2%?
In proportional terms, Indian River County’s creative employment is greater than Chicago, at 3.8% and on a par with New York City at 4.9%? Indian River County’s creative industry generates significant impacts in spending earnings and tax revenues.
Did you know: In 2010, $11.8 was paid by the cultural industry in IRC property taxes, $346 million were produced in goods and services, generating $3.6 million in Florida Sales Tax and $500,000 in Indian River County Sales tax?
This study shows that IRC’s creative industry registers a sizeable impact and is comparable in scale relative to its overall economic size to many of the cultural centers in the U.S. Indian River County can and should consider ways to leverage the assets included in its creative industry to grow its economy.