January 2008 - Posts

• The Creative Industry: A Focus on Neighborhood Revitalization

  Philadelphia-based The Reinvestment Fund (TRF) recently announced a report that focuses on how arts and culture are key ingredients to neighborhood revitalization. Pairing with Innovation Philadelphia’s recent report, Creative Footprint, it is clear that they creative industry is a strong economic generator of the Philadelphia Region. Creativity and Neighborhood Development: Strategies for Community Investment From the transformation of an old factory into a vibrant arts facility, to the development potential of public art and festivals, this publication offers recommendations for investment in arts- and culture-related activity as a strategy for neighborhood development. Resulting from TRF’s collaboration with the Social Impact of the Arts Project and the Rockefeller Foundation, Creativity and Neighborhood Development: Strategies for Community Investment demonstrates that arts and culture can be a key ingredient in neighborhood revitalization.  The publication calls for investing in community-based creative activity, and offers investment ideas for creativity, development and knowledge. This collaboration has also resulted in four briefs which examine issues related to creativity and neighborhood development.  The incubator document for the collaboration, called Culture and Urban Revitalization: A Harvest Document, is SIAP’s review of the literature. All of this work is available at http://www.trfund.com/resource/creativity.html The Reinvestment Fund (TRF) is a national leader in the financing of neighborhood revitalization. What began in 1985 as a small community development organization working in Greater Philadelphia, has evolved into a progressive, results-oriented, socially responsible community investment group that today works across the Mid-Atlantic region. Posted Jan 31 2008, 10:14 PM by blogadmin with no comments

• Painting the Creative Industry Picture for the Philadelphia Region

  Do you know what the strongest creative industry sectors are in the Philadelphia Region? The quantitative findings of Creative Footprint, Innovation Philadelphia’s new study measuring the size, scope and impact of the for-profit, creative economy, have uncovered what these industry sectors are and what makes them strong. Here’s a hint. These six sectors individually employ 25,000 or more workers; with almost all of these sectors feature average wages of $50,000 or more. As a group, these sectors account for 85% of for-profit, creative industry employment; 89% of for-profit, creative industry earnings; and 90% of for-profit, creative industry direct output. Innovation Philadelphia has identified the following technology-driven, for-profit, creative industry sectors measured in the report: -   Architecture, Engineering and Planning -   Communications and Marketing -   Digital Media and Programming -   Fashion Design -   Graphic and Visual Arts and Multimedia Design -   Information Technology -   Interior and Industrial Design -   Music, Film and Video Production -   Photography -   Product and Merchandising Design -   Software Development Over the next six issues, Innovation Matters will take an in-depth look at each of these creative industry sectors. Entrepreneurs, young professionals and creative talent from each industry sector will be featured and the in-depth findings within these industry sectors will be revealed. Do you know what the top six industry sectors are that represent the Philadelphia Region’s for-profit, creative economy? Tell us what you think! Posted Jan 30 2008, 05:45 PM by blogadmin with 2 comment(s)

• Promoting Creativity

  Innovation Philadelphia issued a press release in conjunction with the completion of my firm's report on the economic impact of the for-profit, technology-driven part of the Creative Economy: "New Research Shows Philadelphia’s Creative Economy Big, Growing and Leading the Nation in Key Indicators." There have been reports about biotech, about eds and meds, and about cultural institutions; this report represents the fourth leg of the table. And a big leg it is: almost $60 billion in total economic impact each year, or almost a quarter of the region's economy. Even that might be understating it: more so than biotech, eds and meds, and cultural institutions, the for-profit, technology-driven part of the Creative Economy touches practically every part of our modern economy, as functions like IT and design and communications are embedded into even the most mundane of business activities. What's really music to policymakers' ears is that this is high-margin, high-wage activity, according to our findings. And that's not surprising, for what makes something hard to commoditize is that creativity and innovation have been injected into it. That makes for jobs that pay well, that are hard to lose to another part of the world, and that have a big multiplier effect on the region in which they're located. Of course, this wouldn't be a Philadelphia story if it didn't have this conclusion: we're actually not doing too bad as a region, we just suffer from poor self-esteem. Most people don't consider Philadelphia the hotbed of creativity and innovation that it actually is. For shame, as many people I've talked to have told me they've moved themselves and others to the region unwillingly, only to be pleasantly surprised to find such a rich quality of life here. Much more to say here, but soon the report will be available at Innovation Philadelphia's website, and you can read about it all there. Let's hope more of this creativity circulates around these here parts, and that what's already buzzing can get more of the buzz it's due.  Find the full Creative Footprint Report here.  By Lee Huang, Philadelphia, PA Originally posted on http://leehuang.blogspot.com/2008/01/promoting-creativity-innovation.html. Posted Jan 24 2008, 05:05 PM by blogadmin with no comments