Via an affair with urban policy is an interesting report called "The Artistic Dividend - the arts' hidden contributions to regional development (pdf file) , published by the Humphrey Institute of Public Affairs in the University of Minnesota.
For decades, arts advocates and cultural economists have tried to make the case that public and philanthropic investments in the arts create a positive economic return for the host community beyond the aesthetic enjoyment of the immediate audience or the incomes generated for workers in the artistic enterprise. Hundreds of arts impact studies have been done, detailing the probable expenditure of arts patrons, including tourists drawn to a region expressly for this purpose, on tickets, restaurant meals, hotels, and other local purchases. Despite the methodological problems that confront such efforts (Seaman,1987; Beyers and GMA, 1999), these studies document a not insignificant economic return to non-artistic businesses and the regional economy as a whole.