The government’s involvement in local business
has an important role to ensure that the economic activities of the local area
are improved. To ascertain this concept, several case studies were evaluated
and the resulting conclusion made. This paper will examine the role of arts and
cultural institutions in promoting local economic development in Canton Arts
District, the role of sports stadiums in promoting the local economic
development on commercial property, and the role of business improvement
districts in local economic development in Montgomery County and Maryland.
Evaluation of the results proved that although government involvement in the
local economy led to improvement in social standards, economic development and
rise in property demand; there were still isues that lead to an increase in
crime rates and closure of some businesses. The research questions were
developed to give direction about the research. The paper also gives conclusions
on the study and recommendations that will ensure the improvements on different
sectors and also how to eliminate some challenges.
is the role of the government in promoting the growth of the local economy?
Role of arts and cultural institutions in promoting local economic development
on Canton Arts District
Role of sports stadiums in promoting the local economic development on the
Role of business improvement districts in local economic development in
Montgomery County and Maryland.
Arts and cultural institutions in promoting local
and culture are very important aspects that not only impact the social lives of
people but also impact their economy (Getz et al, 2016). The US local government
has been on the lookout for ways to improve their levels of economy. It was not
until the end of the nineteenth century that the local governments accepted the
arts and culture as an important component of economic development (Fukuyama,
Previously, arts and culture were mainly
considered as non-profit making organizations until 2005 when the Americans for
Arts found out that the sector has very encouraging economic implications
(Haas, et al, 2017). The data on this finding was published in 2012. The CEO of
the organization attributes that public funding for the arts has continually
decreased, the support for the government are searching the sustainable means
to make the arts and culture renewable. Therefore, they need to use reliable
data to prove that arts and culture has a great impact on economic development.
in including arts and culture in economic development have a rich history that
started in the time of the City Beautiful Movement in the 1890’s (Gershman,
2017). This movement was aimed towards the development of architecture and
planning of the city with the intention of making the more beautiful. The
targeted cities included Chicago, Detroit and Washington DC. This showed the
first impact of arts and culture in promoting the quality of life. There on,
the urban population rose drastically as the rural population migrated over, which
resulted in an improved by nearly 46%. However,
this came with problems of overpopulation, inadequate social amenities and rise
in crimes in the urban areas. This is what necessitated the incorporation of
the arts and culture in the economy.
local governments may invest in arts and culture that are aimed at tourist
attraction. While some critics’ might say that tourism activities do not always
impact the development of the economy, there are many studies that support this
contribution. Investments in arts and culture through tourism are major
contributors to the local economy. Tourism has played a major role in ensuring
that there is a greater spending from the tourists in the domestic hotels,
restaurants and the other local businesses. According to the statistics in the
US, an average tourist spends up to about $19.2 in every event. They also spend
an average of 40.2 dollars in the admission costs (Schmid et al, 2016)
The exploitation of skills should be that which puts into
consideration the spirits of the locals. The art, therefore, should not be
over-exploited. This can be done by the appreciating the artistic autonomy
where there is the freedom existing between commerce and arts through the
elimination of deadlines and dictating monitory values attached to arts and
culture. However, some critics say that business rewards wholesomely to those
who are able to pressure the arts to survive (Kolb, 2017). Kolb, however,
believes that art and communities should be able to acquire economic benefits.
By the year 2005, about 2.6 million jobs were available
from both culture and nonprofit arts. In this statistic, 1.3 million works were
results of expenditure of the arts. This formed about 1.01% of the US
employment base. The arts and culture centers perform better in creating more
jobs than for auditors, accountants, safety officer, and primary school
teachers. The report shows that while accounting jobs stood at 0.81%, the
lawyer’s jobs were at only 0.41% with the least employing being professional
athletics which stood at only about 0.01%
The jobs created by arts and culture facilities are of
great advantage to the economy since the jobs remain within the boundaries of
the country and cannot be exported. One way of ensuring that there is a
maintained art and culture in a given location is by the use of the Arts
Incubators. This is a strategy that is engineered at putting emphasis on the
arts for economic prosperity through the creation of jobs and diversification
of the economy from the mainstream forms of businesses. The strategy will also
ensure that the artists are able to acquire the necessary business skills for
the corporate world.
A study of the
Canon City showed that there an arts complex was developed and large
organizations were allowed to the residents. Some of the businesses that were
allowed in included Players Guild Theatre and the Art Institute. The complex
grew so fast but it was not until 2005 ArtsinStark was formed mas a renewal of
the previous one that was formed in 1966. This was aimed at funding of the
arts. There were also several campaigns by the organization aimed at promoting
arts in the United States. This led to the formation of a new Art district in
Canon. The organization diversified the art industry and led to the funding of
the industry. The innovation also encourages the interests of the local to go
out and experience the fun in arts and culture. Canton later became populous as
the Football Hall of Fame.
The business activities in the area improved drastically.
The starts of the initiatives also noted that it came with economic advantages.
Several companies later started purchasing land properties from the Land Bank
and housing became affordable. It can therefore be said that integration of
arts in the United States in their development agenda revitalized the city of
stadiums in promoting the local economic development
A research was conducted on the impact of sports stadiums
was conducted in the cities of Manchester and Cardiff. The research included
interviews and questionnaire aimed at collecting quantitative and the
qualitative data on the impact that the people had witnessed in the major
constructions. Numerous professional interviews were conducted to establish the
views of the stakeholders on matters of the stadiums in relation to the
developments experienced in the real estate. In the study, 371 were also served
with questionnaires in Cardiff while in Manchester, there were 256
The research revealed evidence of mixed reaction about
the stadiums in the cities. It revealed suggestions that the Millennium stadium
and COM stadium did not generate common reactions as to the commercial property
markets in both cities. The study suggested that the stadiums impacted the
image of the areas in which they were situated and thereby increasing the
markets of the commercial property. There was, therefore, the improvement of
the development potential of the area was the stadiums were situated.
In Cardiff, the commercial property values went up by
about 12% (Mor et al, 2017).The
Manchester case was same. Here, the research found an upward trend of up to 8.
It was also specifically noted that the Manchester-based stadium impacts the
retail sector. The surveyors revealed that the stadium impacted the retail
property value to about seven percent.
However, there was the need to take note of the dynamics in the retail
sector especially about the locations of the businesses. Business such as the
Walmart could not consider such a location even is the level of activities
improved in the area. The results on the retail sector were however contrary in
Cardiff as the sector experienced a drop in the retail value by about 3%. The
study also revealed no significant impact on the value on the value of property
in the office sector. The improvements in other sectors were attributed to the
confidence that the landmarks brought to the prospective business people.
improvement districts in local economic development
Thirty interviews were conducted in the role of the BIDs
economic development of the region of northern California. The interview
focused on three major towns of Oxford, Brevard and Whiteville were examined.
It was found that the city of Brevard was a tourist destination with many
tourists and the artists. The area was the home of the Brevard Music Center and
the art school.
It was identified that the California economy had gone
through serious changes in the structure and population with the enactment of
the BIDs. It was witnessed that by the 80’s, there was an influx of the retail
shops outside the CBD’s. The shift from the CBDs by the retailers was a result
of the loss of sales due to retirements. Other stores were restructured into
churches and offices. The cities were also used for the planning of events.
During the dooms of the trade in the area, there was an increase in rent. This
was because of the high demand for business space.
The BIDs came with many advantages. There was the benefit
of the organization of the events. There was one event every month and the main
event for the three cities (Getz et al,
2016). There events such as those that promoted tourist attraction and music
concerts. In Brevard, people were attracted to the white squirrel population.
In the Whiteville, there was the Pecan Festival that attracted celebration.
The paper examined the role of arts and cultural
institutions in promoting local economic development on Canton Arts District,
the role of sports stadiums in promoting the local economic development on
commercial property, and the role of business improvement districts in local
economic development in Montgomery County and Maryland. Evaluation of the
results from there showed that although government involvement in the local
economy led to the improvement in social standards, economic development and
rise in property demand; there were the challenges of rapid urbanization that
came with social issues such increase in the crime rates and closure of some
businesses (Leigh et al, 2016). It is
therefore recommended that the government takes necessary steps to deal with
challenges of urbanization in the areas were tourism and other arts have taken
a toll. There is also the need for the government to increase funding for the
arts since it has been proven to be one of the biggest employers in the United