AGENCY TESTIMONY
Economic impact of New York City's cultural sector
0:22:58
ยท
77 sec
Commissioner Cumbo emphasizes the significant economic impact of New York City's cultural sector, highlighting its importance to the local economy and tourism industry.
- In 2019, the creative sector had a $110 billion local economic impact
- The sector generated $30 billion in wages and employed 300,000 workers
- Culture is a key driver of the city's tourism industry, which generates $74 billion in economic impact
- NYC attracted 62 million visitors in the previous year, approaching the 2019 high of 66 million
- The Adams administration has invested over $1 billion in expense and capital funding in the cultural sector
- The city funds initiatives like the Coalition of Theaters of Color, crucial for smaller BIPOC-led organizations
Laurie Cumbo
0:22:58
In 2019, this creative sector had a $110,000,000,000 local economic impact, generated 30,000,000,000 in wages, and employed 300,000 workers.
0:23:10
Tell that to anyone who says that arts and culture isn't a viable workforce development plan.
0:23:16
Culture is also the backbone of the city's tourism industry, which generates 74,000,000,000 in economic impact with more than 48,000,000,000 coming from direct spending.
0:23:26
New York City has attracted 62,000,000 visitors last year, closing in on the $66,000,000 high watermark achieved in 2019 and helping to drive the city city's recovery.
0:23:39
Since the start of the Adams administration, the city has invested more than 1,000,000,000 in expense and capital funding in the cultural sector in collaboration with the council and borough presidents.
0:23:51
I'm so proud of this working partnership we have with the council, which funds a range of cultural initiatives like the Coalition of Theaters of Color, which are critical to smaller BIPOC led organizations, which are crucial to our city's cultural ecosystem.
0:24:06
Slowly but surely, we've seen major progress across our sector in opening up career pathways for people of all backgrounds in our cultural sector.