August 21, 2014

McCune Foundation Supports Statewide Report on Economic Impacts of Arts and Culture Industries

The New Mexico Department of Cultural Affairs released a commissioned report, Building on the Past, Facing the Future: Renewing the Creative Economy that quantifies the current economic impact of the arts and culture industries in New Mexico and identifies challenges and key opportunities.

The full report was released on Wednesday, August 13, 2014. The comprehensive economic analysis from the University of New Mexico’s Bureau of Business and Economic Research (BBER) provides insight into the impact and potential of New Mexico’s arts, cultural, and creative industries. Key data from the report include:

  • The arts and cultural sector contributes $5.6 billion to New Mexico’s economy each year.
  • Arts and cultural industries provide primary employment for 76,756 New Mexicans (9.8% of employment - one of out of every 10 jobs).
  • Arts and cultural industries contribute $2.2 billion in wages and salaries annually.
  • Arts and cultural industries generate $137 million in revenues for state and local governments.

Although the overall contribution of New Mexico’s arts and cultural industries is a major economic driver, there are critical challenges and untapped opportunities that would not only benefit arts and cultural workers, one out of every 10 jobs in the state, but also greatly improve the overall economic health of New Mexico’s communities.

Read the full report here:

Download the NM Department of Cultural Affairs report »