A national study (American for the Arts AEP6) of nearly 225,000 people from across the USA found:

• On average, attendees for events related to arts & culture (ex: Castle Rock Summer Concert Series, Chamber of Commerce Artfest) spend $38.46 locally (in addition to ticket costs or in-event purchases), an immediate financial benefit to the town in sales tax revenue and to local business’ revenue.

• Broken down even further, $27.24 of that money spent (70%) was on Local “Food and drink” (38.5%), “Retail shopping” (16.7%), “Clothing and accessories” (7.9%), “Groceries/supplies” (7.8%). This impacts local businesses, but also would directly benefit Castle Rock's largest sales tax generating industries (Food and General Merchandise, Misc Retail, Restaurants & Bars, Apparel and Accessories).

• Cultural Events brings revenue into the area from non-residents:

  • Scrutinizing the $38.46 spent on average at local businesses (in addition to the event), $60.57 on average was spent by out of towners, and $29.77 spent by locals, which brings in revenue from outside the area.

• Additionally, the study found that 30% of event attendees come from outside the county of the event they are attending, again bringing revenue from outside sources. This is additionally supported by the fact that 64% of nonlocals stated they would have selected another community to visit if the event was not offered. For local residents, 51% said they would have “traveled to a different community to attend a similar arts or cultural activity.” Support of the arts keeps money spent within the community.

• Arts and Culture is big business: Representing a $16.9B industry in Colorado (2021), 3.9% of state's GDP, and 102,383 jobs.

• Over 66% of Colorado adults attended live music, theater, or dance performances, & more than 42% attended art exhibits (2017 Survey of Public Participation in the Arts, in partnership with U.S. Census Bureau, NEA).

• Economic Activity: Approximately $2.6B, which include operating expenditures, capital spending, audience spending and ancillary expenditures beyond admission, subscriptions, and concessions (eg. spending on meals and transportation) ,

• Economic Impact: Approximately $827M, with 79% of that being cultural tourism (subset of additional dollars attracted from outside SCFD Region from capital spending (construction/renovation of venues), federal government grants, cultural tourism (visitors outside the region, includes portions of cultural institutions’ revenue & ancillary spending, such as dining and lodging.

• Cultural Attendance: Total Denver sports team home game attendance was 3,900,535 versus SCFD-funded Organizations 12,905,328. Metro Denver attendees to SCFD funded programs was 10,085,846, with an additional 968,522 from CO outside SCFD, and 1,412,403 from outside Colorado.

• Employment: 13,551 paid positions, including almost half (7,179) being contract positions which “are particularly important, as those are often freelance artists, educators, performers, stagehands, directors, costume designers, conductors, sound engineers, and other positions critical to events and programs cultural organizations.”

Douglas County has published information by AFTA on Arts & Culture as a business:

• CO Congressional District 4 (Douglas County and additional counties): In 2017, there were 1,992 Arts-Related Businesses that employed 49,609 People. That’s 3.8% of the businesses in District 4 and 12.3% of the people employed. This is an under-representation of arts businesses (particularly those that are nonprofit arts organizations and individual artists). (TCI CD4, 2017)

• Douglas County has 1,235 Arts-Related Businesses (accounts for 5% of total businesses, and employs 47,214 People (21.5% of the people that businesses employ). (TCI DC, 2017)

• Colorado State House District 45 (Castle Rock, The Pinery, Castle Pines Village) has 336 Arts-Related Businesses, and employs 680 People. 5% of the total businesses in Castle Rock (& 2.3% of the people they employ). (TCI DC45, 2017)

• ESRI Data on Castle Rock Resident Recreational Spending demonstrates that Castle Rock locals spend 66% more than the national average on “Entertainment/Recreation Fees and Admissions”. Specifically, 48% more than national average on “Tickets to Theatre/Operas/Concerts,” and 72% more on “Tickets to Parks or Museums.” By comparison, this is in line with how much more locals spend on more commonly referenced activities, such as spending money on “Hunting and Fishing Equipment” (69%) and “Winter Sports Equipment” (52%).

• On average, residents of CR spend 28% ($1,179/month) of their disposable income on “Entertainment/Recreation Fees and Admissions”. Examination of subcategories shows 11% of Entertainment spending is directed towards “Tickets to Theatre/Operas/Concerts” (7%) and “Tickets to Parks or Museums” (4%) demonstrating a significant spending in arts and culture that would benefit from SCFD.

• When including fees for recreational education (“Recreational Lessons”), spending 33% of their recreational budget.

• Unfortunately, the town of Castle Rock has not explored arts and culture as a potential source of revenue. If the topic is included in town surveys, it is a general recreation and entertainment question without an understanding of resident implied values. Open-ended questions on surveys, however, have brought up the topic from local residents. More education to the town and residents on the potential revenue that Castle Rock is missing out on is needed, and exploration of how this can be implemented should be a focus to help boost the town’s financial independence.

• Per EDC website: Some of the categories where per capita spending is highest (Source: ESRI Retail Goods and Services Expenditures Report):

  • Entertainment and Recreation

  • Financial Investments

  • Home Expenses

  • Household Textiles, Furniture and Floor Coverings

  • Child Care

  • Travel