Cleveland Museum of Art has big economic impact, new study says
Posted April 16, 2012 in Articles
Author: Steven Litt
A new study shows that the Cleveland Museum of Art is more than a treasure house of masterpieces. It’s a nonprofit business expected to generate roughly $140 million in economic activity in Cuyahoga County by the end of its 2012 fiscal year on June 30.
By spending $40 million a year on its operations, the museum triggers a total of $60 million in economic impact. The other $80 million in impact comes from spending by 109,000 visitors a year who come to the museum from outside Ohio, or roughly one-third of the audience.
The out-of-towners bring new dollars to the community for everything from hotels and car rentals to restaurants and souvenirs.Their spending supported or created 663 jobs, the study says.
“I’m delighted to see how positive this really is,” said David Franklin, the museum’s director. “I’m not surprised. It speaks to the strengths of the institution, our reputation nationally and internationally.”
Franklin said that the proportion of visitors coming from outside the state “speaks to the vibrancy of Northeast Ohio as a tourism destination, which we may have underestimated.”