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Saratoga Arts and Culture Economic Index

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On June 13, 2018, The Saratoga County Prosperity Partnership, the county’s designated economic development agency, unveiled its inaugural Saratoga County Cultural Index, which reveals that arts and cultural organizations are a significant economic force in Saratoga County – generating more than $80 million in annual economic impact, directly employing over 1,600 people, and serving nearly 6.8 million patrons, including many tourists attracted to the county.

The collective results portray a robust arts and cultural sector in Saratoga County, including:

• Expenditures on goods and services (by institutions): $27.2 million
• Expenditures on goods and services (by audiences): $22.2 million
• Revenue to organizations (including all sources): $26.3 million
• Local government revenue generated: $2.1 million
• State government revenue generated: $2.5 million
• Total salaries paid to direct employees: $7.1 million
• Total household income of direct employees: $32.6 million

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Saratoga Arts and Culture Economic Index

  1. 1. THE ECONOMIC IMPACT OF ARTS + CULTURE On the Saratoga County Economy Photo: Skidmore College
  2. 2. PRESENTING SPONSOR
  3. 3. SILVER SPONSOR BRONZE SPONSOR
  4. 4. “More than most regions of the country, Saratoga County is the beneficiary of major capital investment, strong and vibrant communities, and a diverse economy that provides opportunities in tourism, agriculture, and technology. It was also felt, however, that recent successes have not been capitalized. There was a growing sense that Saratoga County was not positioned for the next wave of opportunity.”
  5. 5. Mission of the Partnership The mission of the Saratoga County Prosperity Partnership shall be to secure sustainable jobs and capital investment by attracting new business to the County and retaining existing businesses by assisting them to grow.
  6. 6. Economic Development Circle of Life Sustainable jobs Disposable Income Demand for Retail/Services Generates Sales Tax and other Revenue Creates superior “Quality of Place” Attracts new business, generates new local business
  7. 7. On the Saratoga County Economy Photo: Skidmore College THE ECONOMIC IMPACT OF ARTS + CULTURE Saratoga County Photo: Cafe Lena
  8. 8. Top Saratoga Destinations by Number of Visitors 1. Saratoga Spa State Park 2.9 M 2. Saratoga Casino Hotel 2 M 3. Saratoga Race Track 1.1 M 4. Saratoga Performing Arts Center 375,000 (2016 cultural events only. Does not include Live Nation statistics) 5. Saratoga National Historical Park 102,800 TOTAL 6,477,800 Source: Tourism, Saratoga County Chamber of Commerce
  9. 9. Top 9 Small Destinations 1. Saratoga Arts 75,000 2. Children’s Museum of Saratoga 45,000 3. Saratoga Polo 45,000 4. Saratoga Automobile Museum 35,000 5. Saratoga National Golf Course 26,000 6. National Museum of Racing 23,900 7. National Museum of Dance 14,000 8. Saratoga Springs History Museum 13,000 9. Wilton Wildlife Preserve + Park 8,500 TOTAL 200,500 Source: Tourism, Saratoga County Chamber of Commerce + Arts + Cultural Survey.
  10. 10. Total attendance for all destinations in Saratoga County Source: Saratoga County Chamber of Commerce. Saratoga Partnership Arts + Cultural Survey – 2017 data 31 Institutions reported Museums 173,900 Performing arts 466,600 Parks + historic sites 3,048,800 Equestrian related 3,145,000 TOTAL ATTENDANCE 6,834,300
  11. 11. SURVEY RESULTS Saratoga County Arts + Culture
  12. 12. Saratoga Arts + Cultural Survey 26 Organizations Surveyed 84% of them are not-for-profit 50% are 20 years or older 39% are between 10-20 years old 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% 45.00% 50.00% 1 - 5 5 -10 10 - 20 20+ 3.85% 7.69% 38.46% 50.00% YEARS IN EXISTENCE How many years has your organization been in existence?
  13. 13. What is the service area for your organization? 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Saratoga County Capital District Northeast United States Other 37.50% 16.67% 16.67% 29.17%
  14. 14. Types of Organizations 48% Museums, preservation, history + culture 32% Performing arts 20% Visual arts + hand crafted products What type of arts, cultural, or heritage organization are you? 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Visual Arts and hand crafted products Performing arts Museums, Preservation, History, and Culture 21.74% 30.43% 47.83% Type of Arts
  15. 15. How are they staffed? How many people does your organization employ? 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% 1 to 3 People 3 to 10 People 10 to 25 People 20 to 50 People More than 50 People 45.83% 20.83% 16.67% 4.17% 12.50% People Employed 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Yes No 62.50% 37.50% Executive Director Do you have an Executive Director?
  16. 16. Volunteers How many people volunteer for your organization annually? 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% 1 to 3 10 to 25 25 to 50 More than 50 18.18% 22.73% 31.82% 27.27% How many Volunteers Annually
  17. 17. Personnel Budget 65% organizations spend less than 50% of budget on personnel 35% spend more than 50% on personnel 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Less than 25% Between 25% and 50% More than 50% 39.13% 26.09% 34.78% Annual Budget used for personnel What percentage of your annual budget is for personnel costs?
  18. 18. Organizational Budget 57% have less than $250K revenue 24% over $500K per year 19% have over $1M in revenue What is your total annual organizational budget? (for non-profits only) 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Less than $250,000 per year Between $250,000 and $500,000 per year. Between $500,000 to $750,000 per year. Between $750,000 to $1,000,000 per year. More than $1,000,000 per year. 57.14% 14.29% 4.76% 4.76% 19.05% Total Annual Budget
  19. 19. Revenue Growth 92% grew between 0-25% 8% grew by over 50% What has been your growth or loss in net revenue during the last fiscal year? 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Between 0-10% Between 10% and 25% Between 25% and 50% More than 50% 52.00% 36.00% 4.00% 8.00% Growth in Net Revenue
  20. 20. Admissions, Concessions, and Operations 83% receive less than 50% revenue from admission, concessions or operations 17% get more than 50% of revenue from admission, concessions or operations What percentage of annual revenue in the past year is derived from admission prices, concessions, or operations? 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Less than 25% Between 25% and 50% More than 50% 62.50% 20.83% 16.67% Annual Revenue derived from admission prices, concessions, or operations?
  21. 21. Revenue from grants 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Less than 25% Between 25% and 50% More than 50% 81.82% 9.09% 9.09% Percentage from Grants What percentage of annual revenue in the past year is from government grants?
  22. 22. Private Donations 37% of respondents receive less than 25% revenue from private donors 23% respondents receive more than 50% from private donors 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Less than 25% Between 25% and 50% More than 50% 36.36% 40.91% 22.73% Revenue from Private Donations and Contributions What percentage of annual revenue in the past year is from private donations and contributions?
  23. 23. Annual Attendance 72% more than 1,000 attendees 40% more than 5,000 attendees 28% less than 500 attendees How many people attended events or participated in programs during the past year? 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% 1 to 250 250 to 500 1,000 to 5,000 More than 5,000 20.00% 8.00% 32.00% 40.00% Attendance for Events
  24. 24. Arts + Economic Development 83% agree that the community should encourage entrepreneurship opportunities for artists. 68% strongly agree community should develop working partnerships with arts + cultural organizations to coordinate economic development efforts. The community should encourage entrepreneurship opportunities for artists and others employed in the creative industries by offering incentives for them to relocate to the area. 0.00% 10.00% 20.00% 30.00% 40.00% 50.00% 60.00% 70.00% 80.00% 90.00% 100.00% Strongly Agree Agree No Opinion Disagree Strongly Disagree 38.46% 46.15% 11.54% 3.85% 0.00% Should offer incenctives to relocate to area
  25. 25. THE ECONOMIC IMPACT OF ARTS + CULTURE National Snapshot
  26. 26. National Impact of Arts Non-profit arts and cultural institutions • $135.2 billion in economic activity. • Includes $61.1 billion by the nation’s nonprofit arts and culture organizations. • $74.1 billion in event-related expenditures by audiences. • 4.13 million full-time jobs and $86.68 billion in resident household income. • $22.3 billion in revenue to local, state, and federal governments every year. Source: Americans for the Arts
  27. 27. Meals, Snacks & Refreshments 53% Local ground transportation 11% Overnight lodging 14% Clothing & Accessories 5% Other 4% Child care 2% Gifts/Souvenirs 11% Average Per Audience Expenditure $24.60 Meals, Snacks & Refreshments Local ground transportation Overnight lodging Clothing & Accessories Other Child care Gifts/Souvenirs Source: Americans for the Arts
  28. 28. Local 32% Non-local 68% Audience Expenditures Source: Americans for the Arts Local vs. Non-local Non-local $39.96 Local $17.42 Non-local attendees spent twice as much as local attendees
  29. 29. 0 2 0 0 1 0 10 1 0 0 1 0 0 2 5 1 1 3 0 0 10 4 4 1 4 3 7 3 3 2 1 3 0 10 0 0 0 0 0 0 6 5 3 1 2 1 2 SARATOGA COUNTY ALBANY COUNTY SCHENECTADY COUNTY RENSSELAER COUNTY COLUMBIA COUNTY GREENE COUNTY WARREN COUNTY Accredited Museums Dance Companies Historical Sites Museums Musical Groups + artists Other Performing Arts Companies Theater Companies + Dinner theaters 21 Regional Arts + Cultural Institutions 20 10 4 14 4 11 Source: Statebook – National Community Survey
  30. 30. Top 15 Arts + Cultural Institutions (2016 990 Forms submitted to IRS) Contributions + Grants $12,859,735 Program income $ 7,011,857 Investment income $ 1,438,855 Other revenue $ 3,271,704 Total Revenue $24,582,181 Salaries $ 7,164,410 Other expenses $13,069,891 Fundraising expenses $ 78,292 Expenses $23,575,640
  31. 31. Estimated Economic Impact (Americans for the Arts Economic Prosperity Calculator) 21 Arts + Cultural Organizations Spend by arts organizations $27.2 M Audience spending $22.2 M Total expenditures $49.5 M
  32. 32. Estimated Economic Impact (Americans for the Arts Economic Prosperity Calculator) 21 arts + cultural organizations Direct employment 1,014 Full-time indirect jobs 1,590 Household income $31,984,475 Local government revenue $ 2,060,961 State government revenue $ 2,510,464
  33. 33. Economic Development Circle of Life Sustainable jobs Disposable Income Demand for Retail/Services Generates Sales Tax and other Revenue Creates superior “Quality of Place” Attracts new business, generates new local business
  34. 34. Estimated Economic Impact (Americans for the Arts Economic Prosperity Calculator) Saratoga County Arts and cultural organizations generate more than $80 million in annual economic impact, employing over 1,600 people, and serving nearly 6.8 million patrons.
  35. 35. Themes • Saratoga County Arts and Culture impacts the economy by the millions! • Our Arts and Cultural Institutions are growing and are largely healthy • There is opportunity to support them through traditional small business and entrepreneurial initiatives. • Arts and Culture have an impact on business attraction and retention
  36. 36. Economic Development Circle of Life Sustainable jobs Disposable Income Demand for Retail/Services Generates Sales Tax and other Revenue Creates superior “Quality of Place” Attracts new business, generates new local business
  37. 37. MAUREEN SAGER The Impact of the Creative Economy
  38. 38. Alliance for the Creative Economy Impact of Arts and Culture in Saratoga County Luncheon
  39. 39. THE ACE STORY 2014: Launched with the “Captivate” report 2016: • Formed a not-for-profit Today: • 23 investors from for-profit, not-for-profit, and philanthropy sectors • Networked thousands of people at dozens of events • Undertaking strategic regional initiatives
  40. 40. WHAT IS THE CREATIVE ECONOMY?
  41. 41. WHAT IS THE CREATIVE ECONOMY?
  42. 42. WHAT IS THE CREATIVE ECONOMY?
  43. 43. CREATIVE ECONOMY BUSINESSES • 1,499 PAYROLL ESTABLISHMENTS • AVERAGE OF 10 EMPLOYEES • LARGEST 200, HANDFUL OVER 150 • PORTABLE, EASY BUILDS, NONTRADITIONAL WORKSPACES
  44. 44. CREATIVE INDUSTRY SUBSECTORS Artisinal Restaurants Performing Arts Museums & Preservation Visual Arts & Handcrafts
  45. 45. CREATIVE INDUSTRY SUBSECTORS Culinary Agriculture / Food Production MediaDesign Artisinal Restaurants Performing Arts Museums & Preservation Visual Arts & Handcrafts
  46. 46. CREATIVE INDUSTRY SUBSECTORS Culinary Agriculture / Food Production, 29% Media, 23%Design, 17% Artisinal Restaurants, 12% Performing Arts, 7% Museums & Preservation, 7% Visual Arts & Handcrafts, 5%
  47. 47. WHAT IS THE CREATIVE ECONOMY?
  48. 48. Creative Industries are the fourth largest employment sector in the Capital Region.
  49. 49. CREATIVE FREELANCERS Ø Over half of those in Creative Industries are Self- Employed/Freelance Ø Grew by 19% in past five years Ø Predicted to be 35-50% of U.S. workforce in ten years Ø Today’s freelancers will be tomorrow’s employers
  50. 50. CAPITAL REGION ADVANTAGES Ø 1.1 million residents Ø 24 higher education institutions Ø Location Ø Landscape Ø History Ø Arts and culture HOW DO WE MAKE THIS INVISIBLE REGION, VISIBLE?
  51. 51. PANEL DISCUSSION

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