Report: Arts, culture industries have $5.6B economic impact in New Mexico

Economic IndicatorsAssociated Press

A study being released by state officials shows the arts and culture industries have a $5.6 billion economic impact in New Mexico.

The Cultural Affairs Department is releasing the report Wednesday during an event at the National Hispanic Cultural Center in Albuquerque.

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Aside from detailing the dollars behind the state's arts and cultural attractions, the report says there are shortfalls that need to be addressed if the state wants to realize even more of the sector's economic potential.

The report challenges businesses, government agencies and nonprofit groups to find more ways to take advantage of the state's strengths.

Researchers say the cultural and creative industries are changing thanks to technology, but New Mexico needs to do more to adapt.

The study was done by the Bureau of Business and Economic Research at the University of New Mexico.