NEWARK, NJ — Some say that you can't place a value on good art. But Newark's vaunted arts and culture scene may indeed have a value to the city… about $178 million.

That's the estimated amount of annual economic activity that the city's nonprofit arts and culture industry generates, according to Newark municipal officials, who lauded the "astounding" figure during a Tuesday press conference. The press conference followed the release of the latest Americans for the Arts' AEP5 study, which also said that Newark's arts and culture scene supports 4,963 full-time equivalent jobs and creates an additional $15,568,000 in local and state government revenues.

Don't forget to visit the Patch Newark Facebook page here. On Tuesday, Newark native and Tony Award-winning artist Savion Glover, Newark Mayor Ras Baraka and Newark Arts Executive Director Jeremy Johnson came together to remind the city's residents about the benefits that a song or painting can hold for the community.

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See related article: Newark's Wyclef Jean, Ray Liotta, Connie Francis Enter N.J. Hall of Fame Glover, a dancer, choreographer and actor who set a record as the youngest person ever to receive a scholarship in the Newark Community School of the Arts, said that he wasn't surprised to see the incredible impact that the arts have on Newark as a whole. "Newark has always been home, but also, it has always been an absolute cultural gem and the birthplace of so many talented artists and brilliant young people," Glover attested.

Baraka said that communities which embrace arts and cultural education, activities and events are "far richer" than those who don't.

"Newark is a 'City of the Arts' where access to spoken word events, musical and dance performances, film, art exhibits, theatre offerings, museums and libraries add exponentially to our economic health," he said.

See related article: Watch These Newark Students Play Recorders At NJPAC Johnson spoke to the importance of the Americans for the Arts' findings. "It provides direct evidence that the arts and culture industry has a meaningful and significant impact on the economic vitality and vibrancy of our city," Johnson said. "At Newark Arts, we've long believed that arts and culture mean business, and now we have the data to back it up."