Professional Development: Armidale - How to Calculate the Economic & Social Impact of the Creative Industries

Artistic and cultural projects, programs and events play a vital role in shaping societies, fostering creativity, and promoting cultural diversity. However, it is equally important to recognise and measure their social and economic impact. Arts North West recognises the importance for the creative industries to determine the social and economic impact of their projects and programs to advocate for the arts, obtain funding and continue to offer creative opportunities for communities to increase and maintain vibrancy and liveability in the New England North West.

Arts North West is working with Margot Davis from Unearthed Prosperity and Min Seto from Social Value Bank to deliver a series of FREE workshops to provide the tools to confidently communicate the social and economic impact of the arts and to advocate and prosper as a creative collective.

Margot Davis from Unearthed Prosperity will be presenting a session on Economic Impact and will deliver the following objectives:

• Define the economic impact of artistic and cultural programs and events.
• Explore various methodologies and frameworks for measuring economic impact.
• Understand the key indicators and data sources required for economic impact analysis.
• Analyse case studies to identify best practices and lessons learned.
• Discuss strategies for effectively communicating the economic impact to stakeholders and policymakers.

Min Seto from Social Value Bank will be presenting a session on Social Impact and will deliver the following objectives:

• What is Social Value and how and why we monetise social outcomes.
• Identify different tools to measure and report social impact of programs and projects
• Participants will understand how they can use Social Impact as a viable measurement of success and outcomes
• Identify program logic and data collection methodologies to report on social outcomes.
• Apply Cost-Benefit Analysis in the Arts.

Morning tea and light refreshments will be made available on the day.