South Carolina arts and cultural industries among fastest-growing in nation
Latest Data Shows Increase to U.S. Economy from Arts and Cultural Sector
Sector Contributed $804.2 Billion or 4.3 Percent of Nation’s GDP in 2016
Key national findings from this year’s ACPSA
- Arts and culture play a significant role in the economic activity of the country. The value-added to GDP by arts and cultural production is nearly five times greater than that of the agricultural sector. Arts and culture adds nearly $60 billion more than construction and $227 billion more than transportation and warehousing to the U.S. economy.
- Arts and cultural goods create a trade surplus. In 2016, the U.S. exported nearly $25 billion more in arts and cultural goods and services than it imported, a 12-fold increase over 10 years.
- ACPSA exports are driven by movies and TV programs, advertising, and arts-related software such as video games.
- The average annual growth rate for arts and culture outperforms the growth rate of the total U.S. economy. From 2014 to 2016, the average annual growth rate in the contribution of arts and culture was 4.16 percent, nearly double the 2.22 percent growth rate of the total U.S. economy.
- Consumer spending of the performing arts has risen significantly. Between 1998 and 2016, the rate of consumer spending on performing arts admissions more than doubled, rising from 0.12 percent of U.S. GDP in 1998 to 0.26 percent, totaling $32.7 billion, in 2016.
Key state findings from this year’s ACPSAThirteen states had an average annual growth rate above the national average of 5.9 percent, as measured over the three-year period of 2014 to 2016. Listed in order, these states were the fastest-growing for the percentage of their gross state product coming from arts and cultural industries. Rank and Average Annual Growth Rate: 2014-2016
1. Washington State:11.9 percent 2. Georgia:11.1 percent 3. Utah:10.2 percent 4. Nevada: 9.8 percent 5. California: 7.8 percent 6. *Tennessee: 7.8 percent 7. New Mexico: 7.7 percent 8. *SOUTH CAROLINA: 7.5 PERCENT 9. Florida: 7.1 percent 10. *Montana: 6.6 percent 11. Oregon: 6.5 percent 12. Colorado: 6.3 percent 13. Massachusetts: 6.2 percent*These states are identified as rural by the Bureau of Economic Analysis because 30 percent or more of the state’s population live in rural areas. To learn about how arts and culture impact the economies of rural states, go to the Rural Prosperity report below.
Ed. note: this news comes the same day that President Trump released an FY20 budget today that removes all funding for the National Endowment for the Arts. For more, please read more from the S.C. Arts Alliance.
Resources The Arts Endowment, BEA, and the National Assembly of State Arts Agencies have developed resources to help users understand the data.
- A Key to ACPSA Industries describes the 35 ACPSA industries and the percentage and amount of economic value ascribed to each.
- Through an award from the Arts Endowment, the National Assembly of State Arts Agencies (NASAA) has produced an interactive dashboard that allows users to explore key information for individual states.
- The National Governors Association in partnership with the Arts Endowment and NASAA just published Rural Prosperity through the Arts and Creative Sector: A Rural Action Guide for Governors and States which synthesizes a growing body of research showing how arts-based economic development can help rural communities to thrive.
- An interactive infographic produced by the NEA allows users to get information about their state from a U.S. map.