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Arts Essential to Urban and Regional Economic Growth
According to a recent article in MSN Real Estate, communities that have a large concentration of artists tend to be the best place to invest in real estate now for a large return in five to ten years.
According to the article, artists stimulate local economies in a number of ways. True artists, defined as self-employed visual artists, actors, musicians, and those in similar professions, often cannot afford high-end real estate, so they seek out the lower-priced areas and put their own creative stamp on it. The creativity of the residences can soon draw boutiques, galleries and restaurants as well as other establishments. In addition, artists can directly affect the local economy with their demand for supplies. Non-arts businesses also use artist contractors to improve product design
A community that already supports the arts can be very appealing to artists looking for a home, and not all artists are starving – they often have jobs that support them financially while they pursue their passion.
The DeSoto Arts Council strives to increase arts awareness and bring cultural benefits to the community. According to MSN Real Estate, the benefits could be economic as well.