Music as Community Wealth Building
By The Democracy Collaborative and Scioto Analysis
October 27, 2026
Foreword
More than two decades ago, The Democracy Collaborative coined the term Community Wealth Building to describe a new approach to local economic development rooted in democratic ownership, broadly shared prosperity, and community control. One of the first Community Wealth Building pilot projects occurred shortly thereafter in Cleveland, Ohio – a city that had been hit hard by decades of deindustrialization and disinvestment.
A key feature of the Cleveland Community Wealth Building initiative was leveraging the economic power and potential of large, place-based nonprofit organizations in the city – especially hospitals, universities, and foundations. Several of these so-called “Anchor Institutions” went on to play a prominent role in supporting the creation and development of the Evergreen Cooperatives, an innovative network of worker-owned businesses that continues to operate in the Cleveland area.
In the years since, The Democracy Collaborative has been developing the concept of an “Anchor Mission” and advancing it around the world. The anchor mission is based on the idea that anchor institutions should apply their long-term, place-based economic power, in combination with their human and intellectual resources, to better the long-term welfare of their communities – and thereby help secure their own wider interests.
While there has been considerable interest in, and adoption of, the anchor mission in recent years, this has been primarily concentrated in “traditional” anchor institution sectors – specifically eds and meds (universities and hospitals). However, the anchor mission can, and should, apply to a wider array of public and non-profit institutions.
This includes cultural institutions. In communities across the country, museums, theaters, music venues, orchestras, libraries, and cultural nonprofits serve as anchor institutions, organizations with deep roots in their communities whose success is inseparable from the success of the places they call home. These organizations do far more than entertain, educate, or inspire. They shape local identity, attract visitors, create employment, foster entrepreneurship, and generate the social connections that make neighborhoods vibrant and resilient. Moreover, they are powerful economic players with procurement budgets, investments, and direct and indirect payrolls.
This report, The Economic Impact of Cleveland’s Music Industry, is part of an ongoing effort to deepen our understanding of anchor institutions and how they may support Community Wealth Building efforts in place. It was developed in partnership with the Ohio-based public policy organization Scioto Analysis – and we are deeply grateful to their team for their expertise and insights.
Cleveland provides a particularly powerful case study. A city with a rich musical legacy, Cleveland has repeatedly turned to its cultural assets as a source of renewal and reinvention. As this report documents, institutions such as the Cleveland Orchestra, Playhouse Square, the Rock and Roll Hall of Fame, and a diverse ecosystem of local venues, festivals, artists, and educators, have helped sustain both cultural vitality and economic activity across the region.
The findings are striking. The report estimates that Cleveland’s music industry alone contributes more than $2.5 billion in annual economic value, supports nearly 23,000 jobs, and generates more than $1.1 billion in annual earnings throughout the metropolitan economy. Even more significant from a Community Wealth Building perspective is the finding that a majority of earnings within the arts and entertainment segment of the Cleveland economy flow to local artists and residents. These are dollars helping sustain people who live, work, create, and invest in the community itself.
That distinction is essential. Community Wealth Building is not solely about economic development. It is about who benefits from economic development, who owns productive assets, and whether economic value remains rooted in place. The report demonstrates that Cleveland’s arts and entertainment ecosystem already contains many of the ingredients necessary for a more democratic and inclusive economy: local entrepreneurship, creative workers, independent venues, community-focused organizations, and institutions committed to cultivating talent and opportunity.
It also includes some of the most trusted institutions in the Cleveland community. These organizations purchase goods and services, employ workers, invest in facilities, educate young people, and convene diverse stakeholders around a shared sense of place. In other words, from a socio-economic perspective the sector is primed and ready to begin consciously adopting the anchor mission. By starting to more intentionally leverage their resources, assets, and operations to support local businesses, local hiring, workforce development, and community ownership, they can become powerful engines of Community Wealth Building.
Like hospitals and universities, cultural institutions in Cleveland and beyond are beginning to recognize how their actions, or lack thereof, impact the communities around them. This includes a new understanding of organizational success, one that goes beyond how many people walk through the doors or the bottom line on a financial spreadsheet and starts to incorporate an understanding of community well-being.
Perhaps most importantly, this report challenges us to see arts and culture not as amenities, but as infrastructure. Just as roads, utilities, and technology networks support economic activity, so too do cultural networks. They attract talent, strengthen community identity, encourage entrepreneurship, and generate economic activity that extends far beyond the arts sector itself. And, as this report shows, the benefits ripple through retail, information services, professional services, hospitality, and countless other industries.
At The Democracy Collaborative, we believe that the transition to a more equitable economy will require us to recognize and leverage the assets communities already possess. Cleveland’s musical heritage is one such asset. This report provides both evidence and inspiration. It reminds us that culture is not separate from economic development. It is one of its most powerful foundations. And when cultural institutions, existing and new, embrace their role as anchor institutions, they can help build strong, democratic, and sustainable communities.
CEO
The Democracy Collaborative
VP Research & Policy
The Democracy Collaborative
