What is the Creative Economy?

The Creative Economy consists of those industries that have their origin in individual creativity, skill and talent and which have a potential for wealth and job creation through the generation of ideas, products and/or services.

 What is the Innovation Economy?

The Innovation Economy consists of  those industries that transform scientific or technological knowledge into products, processes, systems and services that fuel economic development, create wealth, and generate improvements in the state’s standard of living.

Creative Economy industries include:

architecture advertising art cultural industries design education  film games historic preservation

museums music new media performing arts  publishing    radio and television software tourism web development and much more!

 The Creative Economy is taking hold worldwide with major initiatives in Scotland, the UK, Australia and parts of the US. 

The Lawrence Eagle Tribune provided extensive demographic information about the size and shape of the creative economy locally.

They found, for instance, that in 2003 nearly 1000 creative economy businesses with approximately 6000 employees generated $1.258 billion.

Read the entire study here. 

If you aggregate employment in the profit and non profit sectors involved in these fields, total employment exceeded all employment for medical technology in New England.