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Business investment in arts builds economy and community

Mount Equity Group Tokyo Japan > News > Business > Business investment in arts builds economy and community

Facing closures and severely limited in-person visitor options, museums and other cultural institutions have experienced significant challenges over the past year.

Raju Patel, left, and Christoph Heinrich

According to a recent study by the Americans for the Arts as of July 2021, the nation’s nonprofit arts and culture organizations lost an estimated $17.97 billion. Closer to home, the Colorado Business for the Arts Economic Impact Study found that the local arts and cultural scene lost a decade of growth during the pandemic in 2020.

The study, released in November 2021, also found something surprising following a year with challenges like no other in recent memory: Giving to the arts increased by more than 5 percent in 2020 compared with the prior year.

Partnerships between cultural institutions and the business sector are an important part of the ecosystem here in Colorado and can help provide greater public access to art and support…

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