First off, Music Canada Live, FACTOR, Creative BC, the provincial government and the City are co-funding a Nordicity study detailing the economic impact of BC’s live music sector, and a parallel Vancouver Music City initiative, co-funded by Music Canada Live and conducted by Sound Diplomacy, aims to develop a strategy to help maintain a healthy music economy in the Pacific Rim city.
As with other cities, escalating commercial rents increasingly threaten the profitability of live music venues.
Discussions also centred on an ambitious plan to develop commercial ties with music hubs in the Pacific Northwest that includes San Francisco, Portland and Seattle.
According to a 2009 study, conducted by Music Canada using PWC, the estimated total economic output, GDP, and employment generated from spending in BC in 2009 was $47.5M, $26.9M and 570 jobs respectively. Wages and salaries amounted to $21.5M and government revenues generated from economic activity were approximately $5.2M.
Ash Kelly at CBC News has the details.