The study covers a period of ambitious growth and renewal for hundreds of nonprofit cultural organizations in New York City and reflects the optimism and prosperity of the 1990s. Many building projects have been completed; others are under way or in various stages of planning. These include the expansion of the Museum of Modern Art and the plan to renovate Lincoln Center, and will further solidify New York’s place as a worldwide center of culture.
According the report, New York City’s cultural institutions, such as museums, theatres, parks, concert halls and zoos, made combined capital expenditures of $1.8 billion from 1997 to 2002. These investments yielded:

• An average of 2,255 full-time jobs annually;
• $512 million in wages for New York City residents; and
• $36 million in additional tax revenue for New York City.

Based on survey responses from cultural institutions, capital spending could total $2.18 billion from 2003 to 2006. This amount for the four-year period would be slightly less than that expended in the previous six years and substantially larger than that expended in the early 1990s.

Some organizations, however, are counting on City funding for 100 percent of their capital projects, and 28 percent of the total funding for capital projects planned over the next four years is expected to come from the City of New York. Many of these projects are currently threatened by recent cuts in the City’s Cultural Affairs budget as well as by a slowing economy and recent losses in the equity markets.

Attendance at the American Museum of Natural History (AMNH) has risen 43 percent since the 2000 opening of the $210 million Rose Center for Earth and Science. Construction of the architecturally-acclaimed, interactive facility helped transform the AMNH into a 21st century museum. Photo credit: D. Finnin/AMNH.

“ As noted in the Building Congress’ recent development report, New York City’s preeminent arts and cultural facilities are major contributors to the City’s economy and fundamental to its quality of life,” said New York Building Congress President Richard T. Anderson. “Additional investment in and expansion of these facilities must be viewed as a critical component of the City’s comprehensive, long-term economic development strategy.”

Alliance for the Arts President Randall Bourscheidt added, “This report tells a story of success and of the economic wisdom of building and supporting cultural institutions. The benefits to the building trades and other segments of New York City’s economy are quantifiable and significant. The result is an enhanced cultural infrastructure that will continue to serve the City, attract tourists and bring much-needed revenue.”

• The full report is available at www.alliance for arts.org.