The economics of art

October 1, 2011
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There’s no question ArtPrize is a boon to the community. But how much is it really worth in terms of dollars? That’s what Experience Grand Rapids, in collaboration with The Right Place Inc. and the WKK Fund of the Grand Haven Area Community Foundation, hopes to discover. Experience GR has engaged Lansing-based Anderson Economic Group to conduct an economic impact study of ArtPrize.

“ArtPrize has proven to be an overwhelming success for Grand Rapids and has helped to significantly elevate our profile nationally as a true arts destination,” said Doug Small, president of Experience GR. “Our primary objective as an organization is a perfect complement to the ArtPrize mission. While the competition underscores the importance of art in communities, our mission is to lead the marketing efforts for Grand Rapids and Kent County with the end result being a stronger economic base.”

The AEG analysis is expected to produce a direct and indirect economic value for the international art competition. The 10-week study is expected to be complete by the end of November.

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