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Arts and Regional Prosperity: Economic Impact of Creative Industries in Northwest Ohio

Arts and Regional Prosperity: Economic Impact of Creative Industries in Northwest Ohio. Michael C. Carroll Center for Regional Development. Overview. Study Parameters and Background Study Area Defining the Creative Industries Study Results Economic Development Possibilities.

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Arts and Regional Prosperity: Economic Impact of Creative Industries in Northwest Ohio

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  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. 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 Previous Economic Impact Studies

  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. 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 Specific Industries Included

  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 (6th 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 CRD@BGSU.edu

  16. Richard Anderson Chairman and CEO, The Andersons

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