Bill Overview
Title: CREATE Act of 2022
Description: This bill expands financial assistance for, and establishes measures to support, the creative economy and art entrepreneurs. Specifically, the bill requires (1) the Small Business Administration to develop loan criteria, evaluation procedures, and technical assistance programs for small business concerns that are owned by artists and support the creative economy; and (2) the Department of Commerce to ensure that traditional economic development tools, such as business incubators and grant programs, support the arts industry and creative economy.
Sponsors: Sen. Schatz, Brian [D-HI]
Target Audience
Population: Individuals involved in the creative economy and arts entrepreneurship
Estimated Size: 7000000
- The bill focuses on supporting the creative economy.
- There are millions of people globally involved in the arts and creative industries, including artists, musicians, designers, etc.
- The creative economy is not limited to one country; it has a significant global presence as art and culture are universal.
- The bill includes provisions for financial assistance and business support, potentially benefiting those currently in or planning to enter the creative economy.
Reasoning
- The creative economy in the U.S. provides significant contributions to the economy but faces challenges unique to the space, such as inconsistent income and limited access to traditional business resources.
- This policy aims to provide targeted support to artists and creative entrepreneurs, potentially increasing their financial stability and business development opportunities.
- The diversity within the arts and creative industries means that impacts will vary widely based on medium, geography, and business model.
- Given the budget and scale, while the policy can have substantial localized impacts, it won't affect every individual in the target population directly and is likely to influence those in key areas or stages of business development.
Simulated Interviews
Freelance Graphic Designer (Brooklyn, NY)
Age: 32 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 10.0 years
Commonness: 15/20
Statement of Opinion:
- The policy sounds promising as it aims to help entrepreneurs like me with business development.
- Access to more structured financial aid could help stabilize my income and allow for growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 6 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 7 | 6 |
Musician and Sound Engineer (Austin, TX)
Age: 45 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 5.0 years
Commonness: 12/20
Statement of Opinion:
- It's hard to access funding for music initiatives, which limits growth.
- If the policy can help with financing and tech assistance, it’s a big win for musicians.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 6 |
| Year 20 | 6 | 5 |
Artisan Craft Maker (Portland, OR)
Age: 28 | Gender: other
Wellbeing Before Policy: 7
Duration of Impact: 7.0 years
Commonness: 10/20
Statement of Opinion:
- Additional support could provide much-needed resources for marketing and expanding product lines.
- I've struggled to afford equipment that could increase production.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 8 | 7 |
| Year 3 | 9 | 6 |
| Year 5 | 9 | 6 |
| Year 10 | 8 | 6 |
| Year 20 | 8 | 6 |
Gallery Owner (Santa Fe, NM)
Age: 52 | Gender: female
Wellbeing Before Policy: 6
Duration of Impact: 3.0 years
Commonness: 8/20
Statement of Opinion:
- Policies helping artists could indirectly help gallery owners by increasing market demand.
- I hope this could lead to more foot traffic and higher sales.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 6 |
| Year 5 | 6 | 6 |
| Year 10 | 6 | 6 |
| Year 20 | 5 | 6 |
Theatre Producer (Detroit, MI)
Age: 38 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 10.0 years
Commonness: 10/20
Statement of Opinion:
- Targeted grants could rejuvenate local theaters and help foster up-and-coming talent.
- Support for creative economies is crucial for community and cultural growth.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 5 |
| Year 2 | 7 | 5 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 8 | 5 |
| Year 20 | 7 | 5 |
Emerging Digital Artist (Atlanta, GA)
Age: 23 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 5.0 years
Commonness: 13/20
Statement of Opinion:
- The policy could provide good opportunities for emerging artists to bridge the gap between college and professional work.
- Would like more platforms to showcase digital works.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 7 | 7 |
| Year 2 | 8 | 6 |
| Year 3 | 8 | 6 |
| Year 5 | 9 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
Independent Filmmaker (Los Angeles, CA)
Age: 41 | Gender: male
Wellbeing Before Policy: 6
Duration of Impact: 4.0 years
Commonness: 11/20
Statement of Opinion:
- If it addresses high production costs, I could take on more ambitious projects.
- Hopeful that new connections and support could be beneficial.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 6 | 6 |
| Year 2 | 7 | 6 |
| Year 3 | 7 | 5 |
| Year 5 | 8 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 5 |
Ballet Instructor and Choreographer (Chicago, IL)
Age: 34 | Gender: female
Wellbeing Before Policy: 8
Duration of Impact: 6.0 years
Commonness: 9/20
Statement of Opinion:
- Support for arts education could expand programs and reach more students, benefiting the community.
- If subsidies extend to dance studios, growth could be facilitated.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 8 |
| Year 2 | 9 | 8 |
| Year 3 | 9 | 8 |
| Year 5 | 9 | 8 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
Songwriter (Nashville, TN)
Age: 47 | Gender: male
Wellbeing Before Policy: 5
Duration of Impact: 3.0 years
Commonness: 13/20
Statement of Opinion:
- Any policy that helps with marketing and reaching new markets is excellent.
- Songwriters often get left out of such opportunities—hoping this includes us too.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 5 | 5 |
| Year 2 | 6 | 5 |
| Year 3 | 6 | 5 |
| Year 5 | 7 | 5 |
| Year 10 | 7 | 5 |
| Year 20 | 6 | 5 |
Tech-based Art Entrepreneur (San Francisco, CA)
Age: 30 | Gender: female
Wellbeing Before Policy: 7
Duration of Impact: 8.0 years
Commonness: 9/20
Statement of Opinion:
- This policy could bridge tech and art, fostering innovations like mine.
- With tech evolving, creative solutions need financial backing.
Wellbeing Over Time (With vs Without Policy)
| Year | With Policy | Without Policy |
|---|---|---|
| Year 1 | 8 | 7 |
| Year 2 | 9 | 7 |
| Year 3 | 9 | 7 |
| Year 5 | 10 | 7 |
| Year 10 | 9 | 7 |
| Year 20 | 8 | 7 |
Cost Estimates
Year 1: $200000000 (Low: $150000000, High: $250000000)
Year 2: $210000000 (Low: $160000000, High: $260000000)
Year 3: $220000000 (Low: $170000000, High: $270000000)
Year 5: $250000000 (Low: $200000000, High: $300000000)
Year 10: $300000000 (Low: $250000000, High: $350000000)
Year 100: $300000000 (Low: $250000000, High: $350000000)
Key Considerations
- The implementation would require close partnerships with local and state agencies to effectively reach the target population.
- Effectiveness in enhancing economic development tools for the creative economy could vary regionally based on local government support.
- Continuous monitoring and evaluation will be needed to ensure that the funds are used efficiently and the target outcomes are achieved.