ArtPrize releases 2016 economic impact report
ArtPrize recently released the results from its 2016 Cultural, Social and Economic Impact report and 8th Annual ArtPrize.
ArtPrize organizers say over the 19-day event in 2016 drew a half million visitors to downtown Grand Rapids.
Lansing-based economics research and consulting firm, Anderson Economic Group, conducted surveys indicating visitors represented all 50 states and arrived from 47 countries. The data shows visitors are traveling greater distances to ArtPrize venues. The impact study reveals “63% of visitors traveling more than 30 miles to attend the event.”
Once they arrive they spend their money to the tune of $28.6 million in what Anderson Economics calls “net new economic impact on the city.”
ArtPrize organizers also explain 2016 was a year for improving its financial stability heading into the 9th annual event with corporate sponsors now making 50% of its budget.
Patrick Center, WGVU News