A businessman and philanthropist from Phoenix, Arizona, Mark Love has worked in finance for the last 32 years. Outside of his professional pursuits, Mark Love is interested in art, which in Arizona has become an important factor in the economy.
According to the Arizona Commission on the Arts, the state’s arts and culture sector has contributed significantly to the economy. The US Bureau of Economic Analysis (BEA) and the National Endowment of the Arts (NEA) reported that in the fiscal years 2015 and 2016, these sectors have contributed $9 billion and $9.35 billion respectively to the state's economy.
The Arts and Cultural Production Satellite Account (ACPSA), an organization the BEA and NEA created, tracked the annual impact of arts and culture in the state. The organization looked at two factors influencing the state’s GDP-employment and retail.
The reports were published in 2018 and 2019 but the data was based on earnings in fiscal years 2015 and 2016. In terms of employment, in 2015, 90,000 people were employed in the arts industry and earned $4.9 billion while, in 2016, the number of people employed in this industry grew to 91,878, earning $4.95 billion. The sector generated $1.6 billion to the state’s economy in art-related income in 2015, and in 2016, there was no data related to retail.
According to the Arizona Commission on the Arts, the state’s arts and culture sector has contributed significantly to the economy. The US Bureau of Economic Analysis (BEA) and the National Endowment of the Arts (NEA) reported that in the fiscal years 2015 and 2016, these sectors have contributed $9 billion and $9.35 billion respectively to the state's economy.
The Arts and Cultural Production Satellite Account (ACPSA), an organization the BEA and NEA created, tracked the annual impact of arts and culture in the state. The organization looked at two factors influencing the state’s GDP-employment and retail.
The reports were published in 2018 and 2019 but the data was based on earnings in fiscal years 2015 and 2016. In terms of employment, in 2015, 90,000 people were employed in the arts industry and earned $4.9 billion while, in 2016, the number of people employed in this industry grew to 91,878, earning $4.95 billion. The sector generated $1.6 billion to the state’s economy in art-related income in 2015, and in 2016, there was no data related to retail.
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