A new report on the impact of the creative economy on New Bedford’s economy has been 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,” emphasizes the diversity of New Bedford’s creative 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 report highlights the importance of the arts economy in the city, 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, New Bedford’s 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 recommends continuing to support funding for the arts, tracking development in creative industries, and expanding loan and investment programs for these industries. Despite a decrease in revenue due to COVID-19’s impact, future research projects higher revenue growth in New Bedford’s creative economy.