This study quantifies the MetroWest Creative Economy by analyzing data from 21 participating arts and culture organizations, all of whom are members of the MetroWest Tourism and Visitors Bureau. MetroWest Tourism & Visitors Bureau Economic Impact Analysis April, 2013 What is the Creative Economy? The economic activity, such as jobs, financial transactions, and wealth creation, generated by businesses and non-profit organizations of a creative or cultural nature What Contributes to Economic Impact? Operating Budget Attendance by Out-of-Region Visitors Employees Investments These dollars initially spent by a creative organization spread out into the community, creating a “ripple effect” that adds up to the Total Economic Impact. We used 2 validated models to calculate economic impact, and averaged the results to improve our study’s reliability AFTA – (Americans for the Arts) Arts and Economic Prosperity Initiative - nationally focused C3D – (Center for Creative Community Development ) and New England Foundation for the Arts’ Culture Count Initiative (regionally focused) The overall economic impact of the 21 MetroWest cultural organizations in this study is nearly $375 Million and 4000 jobs over 5 years. Cumulative Impact:  Economic Impact: $374,918,000 over five years  Employment Impact: 3967 full-time equivalent employees over five years  Net Present Value: $272,404,000 with an assumed discount rate of 6% per year Annual Economic Impact  Average Annual Increase: $8,105,816 per year  The economic impact is cumulative, summing to nearly $400M over five years Investment Period

Susan Nicholl, Executive DirectorAnn Budner & Nate Chenenko MetroWest Tourism & Visitors BureauCarlisle & Company These Study Participants Are Just Some of the Arts and Culture Organizations That Contribute to the MetroWest Economy Amazing Things Arts Center The Center for Arts in Natick Commonwealth Ballet Concord Museum Danforth Museum of Art The Discovery Museums Five Crows Fountain Street Fine Art Framingham History Center Franklin Performing Arts Company Franklin School for the Performing Arts Hopkinton Center for the Arts Mass Audubon Museum of Russian Icons Natick Center Associates Natick Historical Society New England Wild Flower Society Palettes Spellman Museum of Stamps & Postal History Tower Hill Botanic Garden The Wayside Inn What Contributes to Employment Impact? Both part-time and full-time staff count If the arts & culture organization hires contractors or consultants, they count too All those workers, in turn, lead to neighboring businesses hiring more workers Jobs in creative organizations tend to stay in the local economy For More Information: Thanks to Our Generous Sponsors:  Average Annual Increase: 37 full-time equivalent jobs per year  The employment impact is cumulative, summing to nearly 4000 FTE employees over five years Annual Employment Impact