By: Paul Landsmyer
New Yorkers are a creative bunch, and a new report proves it.
Comptroller Scott M. Stringer has released a comprehensive new report on the creative economy in New York City, showing that the creative sector spurs $110 billion in economic activity, employs nearly 300,000 New Yorkers, and now accounts for one out of every eight dollars of New York City’s annual economic output.
The Comptroller’s analysis provides a comprehensive and up-to-date overview of the state of this iconic sector and its workforce – showcasing the sector’s importance to the city and identifying recommendations to build the creative economy of the future by strengthening the relationship between City government and creative institutions and programming.
“New York City is the creative capital of the world, and this report shows how the sector at the heart and soul of our city is also a pillar of our economy. From Broadway to local theater groups, film studios to artists’ studios, New York City’s creative sector is as much a core industry of our city as banking or real estate or law. We need to invest in strengthening the creative economy to support and recognize it as the engine of opportunity that it is,” said Stringer. “New York City is the crossroads of creativity. This report provides a thoughtful and comprehensive roadmap for the City to fully realize the potential of the creative economy, expand opportunities to all New Yorkers, and build a thriving, diverse creative sector for the future.”
The sector – comprising industries from the performing arts to advertising, film and television to museums and art galleries, publishing, fashion, design and architecture, as well as thousands of independent artists, designers and others — employs 293,000 people, pays $30 billion annually in earnings, and accounts for one in every eight dollars in economic output, Stringer found.
“The U.S. creative sector is increasingly concentrated in New York City. Twelve percent of creative sector jobs are located in the City – compared to 3 percent of all U.S. jobs – reaching as high as one in every 5 jobs nationally in the publishing, advertising, and fashion design industries.
“At the same time, volatile employment situations for some creative workers, high rates of self-employment, and a growing affordability crunch contribute to economic insecurity among much of the creative workforce, challenging New York City’s continued pre-eminence as a creative hub. Lack of diversity among creative workers also remains a challenge.”
Stringer’s report details a series of recommendations aimed at strengthening and sustaining the creative sector in New York City. In particular, the report emphasized the importance of establishing a comprehensive citywide strategy to sustain and promote this economically-important sector, better connect all New Yorkers with cultural opportunities and careers, and ensure that creative workers are equipped to continue to thrive in New York City.
