During its six-month time span, the region-wide art exhibit "Pacific Standard Time: Art in L.A. 1945-1980" generated several thousand jobs and $280.5 million in new economic activity, according to an economic study out Friday.
The Los Angeles Economic Development Corporation found the exhibit supported about 2,490 jobs and generated $19.4 million in tax revenues for state and local governments.
"Pacific Standard Time" was staged at more than 60 cultural institutions from October 2011 to March 2012. The exhibit took a comprehensive look at the birth of Los Angeles' art scene.
The Getty Trust and institutions that participated spent about $29 million to put on the exhibit, which brought about $111.5 million in direct spending by visitors. Using economic models, the LAEDC's economists estimated the net economic gain for the region was $280.5 million.
J. Paul Getty Trust President Jim Cuno called the study "confirmation of a truth that is well-known to cultural institutions, civic officials and corporate supporters of the arts - that investments in cultural activity can yield major economic benefits."
With grants from the Getty Foundation for archives, research, exhibitions, publications, and programs totaling more than $11 million, what began as a collaborative effort to preserve the historical record of the milestones in this region’s artistic history expanded into a great creative landmark.
Within its multitude of simultaneous exhibitions and programs, each participating institution in "Pacific Standard Time" made its own contribution to a grand-scale story of artistic innovation and social change. The exhibit has encompassed developments from L.A. Pop to post-minimalism; from modernist architecture and design to multi-media installations; from the films of the African-American L.A. Rebellion to the feminist activities of the Woman’s Building; from ceramics to Chicano performance art; and from Japanese-American design to the pioneering work of artists’ collectives.
Mayor Antonio Villaraigosa said "Pacific Standard Time" solidified the city's place in art history and celebrated the region's artistic contributions to wider society, "but it provided Angelenos more tangible benefits as well, through creating jobs, driving tourism to the region and increasing the economic activity that generates revenue to fund public services."
Interviews with exhibit-goers found that about 16 percent were from out of state. About 41 percent of the almost 1.8 million people who attended the exhibit went to the museums and galleries specifically for "Pacific Standard Time."
For information visit The Getty Center's website.
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