Creative Sector Economy: Ensure growth and sustainability in the creative sector economy by providing arts, culture and design organizations, creative entrepreneurs, and small businesses with working, material, and physical capital resources. Acknowledge and highlight the significant contributions made by creative sector, and the capital and space needs necessary to sustain the creative economy.
The 2015 Minneapolis Creative Index report noted that creative sales contributed $4.5 Billion into Minneapolis’ economy--nearly eight times the size of Minneapolis’ sports sector revenues. Creative jobs in Minneapolis have grown by 10.4% since 2006 and are represented in 72 different industries. The city is home to 26% of the region’s creative workforce and responsible for 50% of the region’s creative revenues. These facts demonstrate the importance of supporting the growth and sustainability of the creative sector to maintaining Minneapolis’ economic competitiveness.
The creative sector is unique with creative individuals frequently making up their income by combining contracted opportunities in the private sector and grant opportunities funded by the in the public and nonprofit sectors. Nonprofit organizations and small creative businesses also straddle these two worlds, combining nonprofit and for-profit revenue streams in order to operate.
While the creative sector is often cited as an important factor to promoting the City on a global scale, growth in this sector faces particular challenges, as small creative businesses often do not fit traditional small business models, and are configured differently in terms of their labor force and capital infrastructure. To sustain the creative sector the resources that support small businesses need to be tailored and targeted to these unique circumstance and needs.
Racial disparities that persist in Minneapolis’ economy also persist in the creative sector economy. People of color make up a lower percentage of workers in creative occupations compared to all metropolitan area workers--nine percent versus fourteen. Compared nationally, people of color make of 17 percent of the creative workers and 26 percent of all workers nationwide. Work is needed to ensure Minneapolis’ successful creative sector and economy can create opportunity for people of color.
The City will seek to accomplish the following action steps to ensure growth and sustainability in the creative sector economy by providing arts, culture and design organizations, creative entrepreneurs, and small businesses with working, material, and physical capital resources. Acknowledge and highlight the significant contributions made by creative sector, and the capital and space needs necessary to sustain the creative economy.
- Ensure that City resources that support new businesses are fully available to the creative sector, particularly in communities of color and in specific geographies where there is disparity.
- Plan for and encourage a built environment that is appropriately scaled and affordable to creative practice and production.
- Partner with private, philanthropic and other public sector organizations to direct and allocate working capital to the creative sector.
- Engage diverse creative labor in city administration, training, planning research and development projects.