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Arts and Regional Prosperity: Economic Impact of Creative Industries in Northwest Ohio Michael C. Carroll Center for Regional Development.

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Presentation on theme: "Arts and Regional Prosperity: Economic Impact of Creative Industries in Northwest Ohio Michael C. Carroll Center for Regional Development."— Presentation transcript:

1 Arts and Regional Prosperity: Economic Impact of Creative Industries in Northwest Ohio Michael C. Carroll Center for Regional Development

2 Overview Study Parameters and Background Study Area Defining the Creative Industries Study Results Economic Development Possibilities

3 Previous Economic Impact Studies Bowling Green State University The Toledo Zoo The University of Toledo Clay Center for the Arts and Sciences, Charleston, WV West Virginia's Oil and Gas Industry State College System of West Virginia Main Street Tomorrow Grafton, WV University of Toledo Athletics Programs

4 Study Area 27 Counties in Northwest Ohio Most Arts studies are done for a single city or state. Population 1.8 Million 786,327 Households Per Capita Income $28,945 Average Household Income $68,159

5 Creative Industries Included Americans for the Arts Museums and Collections Performing Arts Visual Arts/Photography Film, Radio, and Television Design and Publishing Arts Schools and Services

6 Specific Industries Included Radio and television broadcasting Advertising and related services Specialized design services Ornamental and architectural metal work manufacturing Motion picture and video industries Museums Photographic services Video tape and disc rental Sign manufacturing Promoters of performing arts Independent artists- writers- and performers Performing arts companies Sound recording industries Book publishers and newspapers Custom architectural woodwork and millwork Musical instrument manufacturing Cable networks and program distribution Audio and video media reproduction

7 Creative Industries Economic Impacts: Highlights Generates $2.4 billion annually in NW Ohio economy Supports 33,426 jobs annually in NW Ohio Generates $97 million in State and Local tax revenues Generates $151 million in Federal Tax revenues

8 Context: Employment Equivalent 10 North Toledo Jeep assembly plants. 95 Bass Pro Shops Stores 10 Whirlpool plants Equal to the labor force of Sandusky County

9 Locating the Impact Less than 1/2% 1% to 2.25% 2.25% to 5.5% 5.5% to 10% Greater than10%

10 Locating the Impact Less than 1/2% 1% to 2.25% 2.25% to 5.5% 5.5% to 10% Greater than10%

11 Not Included in the Study Because of Data Limitations Visitor spending at Arts events Architectural and engineering services (6 th largest driver in NW Ohio economy)

12 Moving Beyond the Study Creative industries can be an economic driver

13 The Creative Industries Cluster The creative industries have the same social infrastructure as any knowledge-based industry

14 The Creative Cluster Cluster-based economic development is an economic development strategy that targets existing firms. The underpinning of a successful cluster is a high level of social capital or strong interpersonal relationships.

15 For Questions

16 Richard Anderson Chairman and CEO, The Andersons


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