Study Puts Georgia Music Industry's impact at $3.7 billion

ATLANTA, GA, April 27, 2011 (Press-News.org) Georgia Music Partners, Inc. (GMP) today announced the availability of "Economic and Fiscal Impact Analysis of the Music Industry in Georgia," by noted Ph.D. in Economics, B. William Riall. GMP sponsored the study, which is the first in-depth analysis of the state's music industry since a 2006 Georgia State University study.
Key findings include:
- $3,777,861,628 total impact on the state's economy
- 19,955 jobs (direct and indirect)
- $313,997,714 in taxes collected by state and local governments
o $126,269,724 collected by the state
o $187,727,990 collected by local governments

To download a compete copy of the study, go to http://georgiamusicpartners.org/

Georgia Department of Economic Development's Chief Operating Officer, Pat Wilson said, "The new study reconfirms that Georgia has one of the most robust music industries in the United States, providing good jobs for a significant number of our citizens and contributing to the economic health of the state."

Simon Horrocks, co-president of Georgia Music Partners, believes there is an inequity between the creative talent in the state and the supporting music business industry. "Georgia has the most diverse, world-famous renowned artists, but Los Angeles, New York City and Nashville are better known as music business hotspots. We believe Georgia has the right mix of talent, facilities and innovation needed to compete," said Horrocks.

"Music is a global industry for Atlanta and Georgia," said Hans Gant, senior vice president of economic development of the Metro Atlanta Chamber. "But it's also important because of the signal it sends -- that Atlanta is a multicultural powerhouse where smart, young professionals want to be. They see Atlanta as a city that thrives on the creativity of its young people, and knows how to turn that talent into economic prosperity."

"As wonderful as the 2008 Georgia Entertainment Industry Investment Act has been in bringing TV and film production to Georgia, it does not drive the music business," said Tammy Hurt co-president of Georgia Music Partners. "GMP is working for all people who make a living in recording, live entertainment, music technology, publishing and related business services."

About Georgia Music Partners
Georgia Music Partners (GMP) is a 501c6 not-for-profit organization, which seeks to grow and protect the business of music and related music technology in the state of Georgia through economic development efforts, tax incentives and applicable educational opportunities. GMP was formed from a subcommittee of the Atlanta Chapter of The Recording Academy (which produces GRAMMY Awards). For more information, contact Scott Mills at 678-781-7201, scott@williammills.com or by visiting the organization's website at http://georgiamusicpartners.org

Editor's notes:

Riall's bio and survey methodology are included in the full study.

The National Academy of Recording Arts & Sciences, Inc. owns, among others, the following registered trademarks: National Academy of Recording Arts & Sciences and GRAMMY

Contact:

Scott Mills, APR
678-781-7201
scott@williammills.com