Posts Tagged ‘Tourism’
What’s Our Economy?; Rocks Art
Recently, a Jackson economics summit/conference/brainstorming session took place. I’ve now had a chance to read some reviews of that gathering–how accurate they are I can’t say, because I didn’t attend. From time to time, I have my own little economic tutorials with friends and mentors.
Jackson Hole has always been a seasonal economy. We’re a tourist destination because our region is so astoundingly beautiful, is adjacent to Grand Teton and Yellowstone National Parks, is “Western,” has a great and growing arts sector, and when the snow falls skiers go nuts to come here. Until a few years ago, the lion’s share of full time jobs in Jackson were related to the construction and real estate industries. One of my mentors points out that real estate and construction don’t really create economic growth or wealth; they are the residuals of wealth creation. And yes, those are good jobs for Jackson, and it feels like the market will re-shape and rebound to a certain extent (see the Hole Report)—but smart money won’t rely on construction to sustain Jackson’s future. It’s millionaires and billionaires with fortunes built elsewhere who have erected big houses, supplying jobs for architects, landscapers, construction companies and real estate agents. And, we’re a tax shelter. They’ve also supported many of our critical non-profits.
The Rocky Mountain News reported this week that metro Denver’s arts and cultural sectors created $1.7 BILLION in revenue last year.  Non-profit museums, theaters and other venues drew 16.4 million visitors, with tourism spending accounting for a lion’s share of $392 million spent on arts-related activities.
The report is issued by the Colorado Business Committee for the Arts.
“We know that arts, cultural and scientific nonprofits are significant businesses in the region,” said Deborah Jordy, executive director of the nonprofit that encourages businesses to support the arts. “Their operations contribute to local economic development every day.”
For the full story, click on the story link, published by the Rocky Mountain News.
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