GETTING STARTED – PART 4/6

DATA ON THE DASH

This is an introduction to the creative economy data offered by the Creative Vitality Suite. With data on the for-profit and nonprofit creative sectors, users can analyze driving economic industries and occupations, track trends, and identify deficits. The dashboard offers an overview on your region’s top creative economy statistics.

You will learn:

  • What data is on the dashboard

On the dashboard you will find information on:

  1. Creative occupation jobs
  2. Creative industry earnings
  3. Creative industry sales
  4. Nonprofit arts revenues
  5. CVI value
  6. Population demographics

Remember all data on the dashboard is constrained by your region, data year, and data settings selected in previous articles.

 

CREATIVE OCCUPATIONS JOBS

Creative occupations jobs are the number of skilled jobs employed within your region. In the Creative Vitality Suite, a job is an instance of employment and not an actual person or worker. This is important because a person can have more than one job such as a graphic designer who also plays in a band.

 

CREATIVE INDUSTRY EARNINGS 

Creative industry earnings is the total amount of income workers bring home from the creative industries. The total industry earnings is a strong indicator of the number of dollars paid to local workers which will have a stronger impact on the economy as workers purchase common local amenities such as mortgage, gas, and food and recirculate those dollars back into the local economy. This metric includes both creative workers (musicians, dancers, artists) and non-creative workers (accountants, executives, human resources).

 

INDUSTRY SALES

Industry sales are the number of goods and services sold by creative industries. The difference between industry earnings and sales is that sales do not always indicate dollars that will be retained within the local economy. The reason for this is because once a good is sold, external vendors must be paid which may or may not be located in the local economy. Sometimes industries require imports in order to function. Sales are a strong indicator of output from industry.

 

ARTS NONPROFIT REVENUES

Nonprofit revenues are the amount of income generated from nonprofit arts organizations. Our revenues data comes from the IRS i990 forms and offers a look at the size of your nonprofit sector. When analyzing this information keep in mind that tax forms are self-reported and only organizations with a budget of $50,000 or more are required to submit an i990.

 

CREATIVE VITALITY INDEX (CVI)

The Creative Vitality Index is a benchmarking index used to compare a region’s creative concentration to the nation. Similar to a location quotient, a CVI greater than one indicates creative activity concentration greater than the nation. A value less than one indicates less creative concentration. The Index is comprised of three major indicators: creative jobs from 36 occupation groups, industry sales from 7 core creative industries, and nonprofit arts revenues. The CVI is a great way to get a high-level overview of a region’s creative economy health and trends.

 

DEMOGRAPHICS ON POPULATION

The demographics show the region’s population size, age, and gender makeup. Additional demographic information on race and ethnicity as well as demographics on industry and occupation jobs can be found in the Data section.

 

In the next section, we will review the snapshot report which includes some of these same measurements plus more in-depth data.

 

MORE TUTORIALS AND RESOURCES

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