MetroWest Tourism & Visitors Bureau Economic Impact Analysis April, 2013

1. MetroWest Tourism & Visitors Bureau Economic Impact Analysis April, 2013 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. • 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) • 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 Cumulative Impact: 2012-2016 The overall economic impact of the 21 MetroWest cultural organizations in this study is nearly $375 Million and 4000 jobs over 5 years. • 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 • 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. Investment Period • Average Annual Increase: $8,105,816 per year • The economic impact is cumulative, summing to nearly $400M over five years

2. Susan Nicholl, Executive Director Ann Budner & Nate Chenenko MetroWest Tourism & Visitors Bureau Carlisle & Company 508-361-9881 978-318-0500 susan@metrowestvisitors.orgabudner@carlisle-co.comwww.metrowestvisitors.orgnchenenko@carlisle-co.comwww.carlisle-co.com Annual Employment Impact • 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 • Average Annual Increase: 37 full-time equivalent jobs per year • The employment impact is cumulative, summing to nearly 4000 FTE employees over five years 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 Thanks to Our Generous Sponsors: For More Information: