Chicago Loop Alliance (CLA), the sole service provider for Special Service Area SSA1-2015, announced today it has commissioned the city’s first-ever study calculating the estimated economic impact of all arts and culture institutions located in the Chicago Loop. The comprehensive Arts in the Loop study will be the first of its kind to illustrate how the Loop’s world-class arts and cultural institutions are significant drivers of Chicago’s thriving visitor industry and overall economy.
The Arts in the Loop study will: thoroughly inventory the Loop’s cultural assets, including non-profit, commercial and public art; determine and analyze visitor demographics; measure direct and indirect economic impacts within the Loop from arts and culture visitors; and gather social impact data and value within the overall Loop visitor experience.
As part of the study, a visitor survey is being distributed by Loop arts and culture organizations and is available on CLA’s website at loopchicago.com/arts. Additional non-financial supporters of Art in the Loop include Choose Chicago, World Business Chicago and the City’s Department of Cultural Affairs and Special Events (DCASE).
“The Loop has one of the world’s highest concentrations of arts and cultural offerings, which has contributed immensely to the revitalization of the district over the last 30 years,” says CLA President and CEO Michael Edwards. “With our new study, Chicago Loop Alliance will determine what economic impact this unique sector has on the Loop on an annual basis. Like our university study, Arts in the Loop will help CLA and our public and private partners better market the downtown area, attracting more people and investment.”
The results of Arts in the Loop, released in April 2018, will be used by CLA to promote business development in the Loop; provide case-making data to Loop artistic and cultural organizations; and reposition artistic and cultural organizations as major economic drivers in the City of Chicago. Information will also be shared with cultural, tourism and economic development organizations.
The geographic area covered by the Arts in the Loop study is the Chicago Loop and adjacent parklands, bounded by the Chicago Riverwalk on the north, Chicago River on the west, Congress Parkway on the south, and Grant Park on the east (including Millennium Park and Maggie Daley Park).
Arts and culture institutions include both private and non-profit entities dedicated to: dance, film, theater, music, literature, visual arts (including architecture) and the humanities. It also includes the artistic and cultural programming associated with Grant Park (including Millennium Park and Maggie Daley Park). The study will not include educational institutions except if they house separate, public-facing cultural organizations (Auditorium Theatre, Sullivan Galleries, Robert Morris Gallery, etc.).
Chicago Loop Alliance (CLA), the sole service provider for Special Service Area SSA1-2015, creates, manages and promotes high-performing urban experiences, attracting people and investment to the Loop. For more information, please visit www.LoopChicago.com.