Art collaboration generates $280 million for LA economy

The Getty Trust announced today that city-wide art exhibit "Pacific Standard Time: Art in L.A. 1945-1980" generated $280 million in its six-month run last winter.

More than 60 institutions displayed art created in LA from October 2011 to March 2012.

One of those was 1301 PE, a Mid-City gallery, which hosted contemporary artists Uta Barth and Pae White.

"I don't think we can measure it, you know? The audience is always changing, it's evolving, it's an international group of people," said Brian Butler, one of the gallery's founders. "I don't know, if the Tate international group comes here, which they did, it could be because of Pacific Standard Time, but it also could be on their radar that it's time to come to Los Angeles."

About 40 percent of visitors went to these galleries specifically for Pacific Standard Time exhibits, according to a Los Angeles Economic Development Corporation study released today.

"The economic impact, for us, was a wonderful byproduct of all of that, but we didn't start out and say, 'let's see if we can create something that will generate x number of dollars," said Deborah Marrow, director of the Getty Foundation. "You know, I think the arts do have great economic impact. The studies that we have are very precious, because they begin to tell that story."

The exhibit cost institutions and the Getty Trust about $29 million, but visitors spent about $110 million. The exhibit generated $19.4 million in local and state taxes and supported almost 2,500 temporary jobs.