New data released this month by the U.S. Bureau of Economic Analysis (BEA) and the National Endowment for the Arts (NEA) offers an insightful picture of the impact the arts have on the nation’s and, for the first time, the states’ economies. According to the Arts and Cultural Production Satellite Account (ACPSA), Colorado’s arts industries contribute $13.7B to the state’s economy, employing 100,631 who earned $7B. The arts contributed more than Mining or Transportation to Colorado’s economy. A data dashboard produced by the National Assembly of State Arts Agencies provides more detail through its Creative Economy State Profiles.
A number of Colorado’s arts industries exceed the national average including: publishing, broadcasting, landscape architectural services, and arts‐related computer design systems. Also above average was the economic contribution of Colorado’s performing arts presenters—in 2015, it topped $256 million, a value 40 percent greater than the national index.
Produced by the BEA and NEA, the Arts and Cultural Production Satellite Account tracks the annual economic impact of arts and cultural production from 35 industries, both commercial and non-profit. The ACPSA reports on economic measures—value-added to gross domestic product (GDP) as well as employment and compensation—at the national and state levels. The numbers in this report are from 2015, the most recent reporting year. Nationally, the arts contribute $763.6 billion to the U.S. economy, more than agriculture, transportation, or warehousing and employ 4.9 million workers across the country.