Arts and culture represent a multimillion-dollar windfall for Greater Victoria, according to the results of an arts economic study released last week.

In 2010, $170 million was spent by the regionB次元官网网址檚 artists, hobbyists, arts and culture businesses and organizations, as well as patrons attending performing arts events.

Of that, $126 million stayed in Greater Victoria, said Brock Smith, the studyB次元官网网址檚 author and business professor at the University of VictoriaB次元官网网址檚 Peter B. Gustavson School of Business.

Until the $8,500 study was commissioned a year ago, regional spending by the arts and culture sector was never quantified.

B次元官网网址淏efore the study was done we had a general feeling that arts is good, itB次元官网网址檚 a nice thing to have, but I think thereB次元官网网址檚 a sense that itB次元官网网址檚 not very economically viable,B次元官网网址� said Smith, who conducted the study with his team at the request of the Victoria Foundation, the Capital Regional District Arts Development Service, the Greater Victoria Development Agency, ProArt Alliance and Tourism Victoria.

The positive results tell potential arts investors, such as the provincial government, for example, that B次元官网网址渢heir investment is worth it,B次元官网网址� Smith said.

The findings were based on feedback from almost 100 respondents who answered an online survey, and from 500 people who were approached at performing arts events in March and asked about their pre- and post-event spending.

The results paint a clear picture: The $170-million windfall in 2010 supported more than 5,400 employment years and generated $21 million in annual property tax revenue.

B次元官网网址淲hat (the study) really shows I think is that the amount of money the public sector invests in the arts actually has significant economic spinoffs in terms of equivalent employment (and) in terms of the tax base,B次元官网网址� said James Lam, manager of the Capital Regional DistrictB次元官网网址檚 Arts Development Service.

In future, a similar arts economic impact study may be conducted every two years.