Unleashing Creativity: How the Arts are Fueling New Bedford’s Economy

A new report on the economic impact of creativity in New Bedford has been released by the New Bedford Economic Development Council and Zapalac Advisors. The report, titled “The Creative Economy in New Bedford: 2018-2022,” emphasizes the importance of arts and culture in driving the city’s economy.

During a presentation at Poyant Signs in the New Bedford Business Park, Laurie Zapalac of Zapalac Advisors summarized the report’s findings, recommendations, and methodology. The study highlights the diversity of New Bedford’s creative economy, ranging from historic institutions such as the New Bedford Whaling Museum and Zeiterion Performing Arts Center to independent creatives like poets, musicians, and filmmakers.

As of 2022, the creative economy in New Bedford consisted of 33 non-profit organizations, two public institutions, 383 private companies with employees, and 181 independent creatives/sole proprietors. These establishments generated around $300 million in revenue and provided 3,370 jobs, accounting for 7.2% of the city’s civilian workforce.

The report recommends continuing to support funding for the arts, tracking the development of the creative economy, and expanding loan and investment programs for creative industries. Despite a decrease in revenue due to COVID-19’s impact, future research projects higher revenue growth in the creative economy. Overall, this report underscores the importance of nurturing creativity as a key driver of economic growth in New Bedford.