New Bedford’s Creative Economy Thrives Despite COVID-19: Report Highlights Importance of Arts Economy

New Bedford’s creative economy is thriving, according to a new report released by the New Bedford Economic Development Council and Zapalac Advisors. The report, titled “The Composition of the New Bedford Creative Economy and Economic Impacts 2018-2022,” highlights the importance of the arts economy in the city.

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 report emphasizes the diversity of New Bedford’s creative economy, ranging from historic institutions like the New Bedford Whaling Museum and the Zeiterion Performing Arts Center to independent creatives such as poets, musicians, and filmmakers.

As of 2022, the New Bedford creative economy 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’s recommendations include 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 the impact of COVID-19, future research projects higher revenue growth in the creative economy.