Economic Impact

An economic impact analysis by O’Donnell Economics and Strategy indicates that the NewMexico Museum of Art’s future contemporary art museum in the Santa Fe Railyard will have an extremely positive impact. The museum’s second site will provide contemporary art exhibition space, storage, education program spaces, artist studios and more. According to the analysis, completion of the $10 million Centennial Campaign and the opening of the museum will lead to the creation of an estimated 287 jobs, $9.6 million in annual wages and salaries, $19.7 million in new economic activity, and roughly $1.2 million in annual state and local taxes.

Looking ahead to the contemporary art museum’s first ten years of operation, the study predicts a total of $194 million in economic activity—supporting 345 jobs, producing $102 million in income for Santa Fe residents, and generating $12.3 million in state and local tax revenue.

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