Economic Impact

GRAND RAPIDS, MI – [February 26, 2024] – A recent study conducted by researchers at Grand Valley State University sheds light on the profound economic impact of ArtPrize 2023, revealing a remarkable infusion of $54.7 million into the local economy and support of 434 jobs. 

Moreover, the study underscored the fiscal benefits reaped by Kent County, with over $215,000 generated in new tax revenue from hotel stays, sales, and other taxable sources resulting from visitor spending. 

"We are thrilled to see the tangible economic benefits of ArtPrize 2023 and its role in fostering a vibrant urban core in Grand Rapids," remarked Catlin Whitington, Executive Director of ArtPrize. "While the economic impact is undeniable, the intangible benefits of this authentic arts and cultural experience are equally compelling, driving sustained participation and the enduring vibrancy of this open, global art competition and cultural event."

With over 714,000 visitors traversing the ArtPrize district during the 18-day event, the study found that the majority expressed a strong likelihood to revisit Grand Rapids. With continued draw to the city and high attendance year over year, the impact on local businesses has been remarkable.

“The three weeks of ArtPrize is our most exhilarating time of the year. The influx of visitors to our business improves our bottom line year over year” said Alex Benda, CEO of Oh Hello Paper and Gifts. “Beyond boosting business, ArtPrize energizes downtown Grand Rapids, continuing to help foster a sense of community and artistic exploration. It's not just an event; it's a remarkable transformation and we're proud to be part of it!” 

Beyond the economic impact, ArtPrize provides businesses a unique opportunity to immerse in the local art scene by becoming a venue during the event. Learn more here. Early bird venue registration is open March 7-13, 2024. Mark your calendars for ArtPrize 2024, set to enliven our city once again from September 13th to September 28th.

For the complete Economic Impact Report, click here.