“After a year spent stuck in our houses, there’s nothing like experiencing art to heal the soul,” said Rubinstein. When Meow Wolf or a similar experience opens a location in cities like Denver, Las Vegas (site of Meow Wolf’s second permanent installation, opened February 18, 2021), it not only contributes something new and interesting to the community’s art scene and provides a platform for local artists, it also brings in money for surrounding businesses. But in a broader sense, this kind of data helps make the case for the enduring and sustainable economic value of the arts – a case that the industry itself does not always do a good job making for itself in quantitative terms. As a social impact organization, Meow Wolf sees this kind of “rising tide” effect as central to its own business goals. That’s for one company, in one location, in one state. These revised estimates add $1-1.5B to the company’s expected economic impact over 10 years for a total of $2.5B to $2.9B.The main contributor to that change is a more than 3x increase in out of state visitors to the Santa Fe location. The company is also projecting roughly a 100% increase in NM revenue over the same period driven by both an increase in volume of visitors and an increase in visitor spend.Since this report came out, Meow Wolf is projecting 50% more hires in New Mexico over the 10 year period.The State of New Mexico, in an Economic Development Report completed in 2017, expected Meow Wolf to contribute $1.5B in taxable sales over 10 years.Meow Wolf has done economic impact studies on its work and is releasing some of those results exclusively for the first time. If those trends hold, it will not only be great news for the fans who enjoy fun and innovative ways to enjoy art and storytelling, but also for the artists and communities who participate in the upsurge in interest.
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