In his book, ‘Basic Economics’, Thomas Sowell states that “we do not have enough resources to meet everyone’s desires. The very definition of economics challenges any utopian scheme”. Citing the British economist Lionel Robbins, Sowell asserts that: “Economics is the study of the use of scarce resources which have alternative uses. Using resources to do one thing requires us to take resources away from somewhere else. And ‘resources’ does not always refer to money or raw materials either. Time, manpower, talent and knowledge are all resources too that individuals, businesses, governments and families have to figure out how to use in the most effective way.”So, where does art fit into Sowell’s economic analysis? How is art as a resource used?A few weeks ago, fellow artist, Ami Zanders, organised the second annual ‘Art Walk in the East’, in which various artists of various genres participated and displayed their art work throughout the Town of St George's. This event demonstrated how the Arts can stimulate the economy and revitalise a community. Hundreds of people came out to the Art Walk in St George's.The opportunity for commerce was set amid an energetic buzz created, as people visited stores displaying art, shopped, had dinner, hired babysitters, communicated and networked. Ami pulled off this successful community event with a small budget, with sponsorship from the Bermuda Arts Council, CableVision, the Corporation of St George's, the Bermuda Economic Development Corporation (BEDC), Chewstick and private individuals.This summer, in collaboration with the BEDC, I had the unique opportunity to organise and host a pop-up art gallery in North Hamilton, part of the Economic Empowerment Zone (EEZ). This art venture known as both the North Hamilton Gallery and the B-Side Gallery was another example of community revitalisation.Roxanne Christopher, the officer for the North East Hamilton Economic Empowerment Zone (NEHEEZ), said that “[this] exhibition showcased an interconnection of Bermuda communities and the spirit that encapsulates North East Hamilton. Participation in the B-side Gallery was congruent with the EEZ’s Community Development outreach, which provides an opportunity for creative ideas and revitalisation of the community at large”.Towards the end of this summer, I was fortunate to participate in yet another community art outreach exhibit. The inaugural art exhibition, Mustard Seed, organised and sponsored by St Paul AME Church as a fundraiser and part of its outreach programme was especially special and meaningful. It introduced and exposed many in the community to local art and artists. St Paul’s commitment to community development and outreach was demonstrated by its initiative to organise school visits to the art exhibition for the various public schools in Pembroke and Devonshire.Premier, Paula Cox commented, “The works on display were very powerful pieces, and I was pleased to lend my support, as I see this as a wonderful way to further spur investment in our local art community, and in doing so we are also helping the church.”While individual donations are a very important part of the support needed, they are not enough. It falls to the business community and the government to provide the remaining financial resources that is needed. Now, if these events had sponsorship, not just support, but proper sponsors; they will showcase business’s citizenship.Mind you, businesses support Bermuda arts: The Arts festival, Masterworks, BNG, The Art Center at Dockyard, BSoA and more. However, their support is not seen, further, therefor, misunderstood. They don’t meet public hopes and expectations.In most jurisdictions, international business receive incentives, tax breaks, for their support. However, in Bermuda companies pay no tax on income or capital gains. According to World Tax Rates, there is no corporate income tax or capital gains tax in Bermuda.International business brings, jobs, foreign exchange. This foreign exchange is used to pay for imports. Foreign exchange helps to make the business more profitable and strengthen the economy.For business support, Government can negotiate incentives, name events after sponsor, and negotiate taxes incentives: Payroll tax, customs duties, automobile licences, are but a few negotiating incentives.The EEZ finds ways to use arts. Especially, when it enhance the tax base, GDP, jobs, economy, more visitors, community revitalisation, new traffic; it’s a win-win for all, at no cost to the taxpayers. When a community attracts cultural tourists, it harnesses even greater economic rewards. Nonlocal audiences spend twice as much as their local counterparts: taxi, dinner, drinks.Playwright, director, teacher Pat Nesbitt, said: “make performing arts the third pillar of the Bermuda business model”.She explained: “The Island needs a new industry. We can offer more than beauty. We have talent that could, and should, be harnessed. There’s significant business potential in the performing arts, and this is something that, as a country, we need to look at.”According to, the American for Arts, Arts industry generates nearly $30 billion in revenue to local, state, and federal governments every year. By comparison, the three levels of government collectively spend less than $4 billion annually to support arts and culture — a spectacular seven to one return on investment that would even thrill Wall Street veterans.”It is a common belief that the government ends up funding the arts but in reality, for every dollar the government puts into the arts, they get $7 back in revenue. This makes the arts a great resource.Partnering arts with international business can make Bermuda the envy of the Business world. IB Bermuda will have professionals’ lining- up to be part of a model of success. Art helps to build company relations; reduce stress, increase productivity, and enhance morale. It can broaden employee appreciation of diversity; encourage discussion and expression of opinions.More and more, people make decisions about where they want to live based on quality of life issues. A city with a lively arts community will attract a higher quality work force for the business community. Partnering with arts will improve Bermuda’s bottom line.Using scarce resources will helps fuel economy and sustain more jobs. The arts play a vital role. We contribute to the quality of life in a ways that nothing else can. The presence of a lively arts community attracts people. The arts contribute directly to the local economy because we are locally rooted. The arts bring in tourist who then spends their money in local businesses. We are not a charity; we are vital contributing members, worthy business partners. The arts community has the power to help lead our local community out of this economic downturn. All Bermuda can benefit from that.Manuel PalacioBermuda Artist