business
THE ECONOMIST: The arts
By M. Ray Perryman at Odessa American (oaoa.com)
· June 20, 2026
· 3 min read
Ernest Hemingway once wrote that “A thousand years makes economics silly and a work of art endures forever…” In addition to being enduring, the arts are also economically imperative.
Decades ago, my firm produced a report regarding the economic effects of the arts. It has been used to support maj...
Key takeaway The arts also represent a substantial economic sector with measurable contributions to employment and output, with almost 960,000 Texans employed in creative careers.
Why this matters in The Odessa
In Odessa , the economic impact of the arts can be seen in the city's own cultural events and venues. As the "City of Homes," Odessa has a unique opportunity to leverage its small-town charm to attract visitors and stimulate local business activity. The Ector County Independent School District's support for arts education can also play a crucial role in fostering creativity and innovation among students, setting them up for success in a rapidly changing economy. Furthermore, the city's proximity to Midland and the larger Permian Basin metro area means that cultural tourism can have a ripple effect, benefiting local hotels, restaurants, and retailers. By investing in the arts, Odessa can enhance its quality of life, attract new businesses and residents, and diversify its economy beyond the energy industry, ultimately making it a more vibrant and sustainable community. This can help Odessa thrive within the greater Midland-Odessa metro area.
About this story
Original reporting by Odessa American (oaoa.com) . The Odessa surfaces reporting from trusted publishers and adds local editorial context so readers can quickly understand what a story means for their community. We attribute every source, link to the original report, and follow a documented editorial standards policy. To understand how stories are selected and reviewed, read our about page .
For the complete original report, visit Odessa American (oaoa.com) . Have a tip or correction? Contact our newsroom .
Category: business ·
Published: June 20, 2026 ·
Source: Odessa American (oaoa.com) ·
Reading time: 3 min
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Frequently asked about this story
What is this story about? Ernest Hemingway once wrote that “A thousand years makes economics silly and a work of art endures forever…” In addition to being enduring, the arts are also economically imperative.
Decades ago, my firm produced a report regarding the economic effects of the arts. It has been used to support maj...
When was this published? This article was first published on June 20, 2026 by Odessa American (oaoa.com) and curated for The Odessa readers.
Who reported this story? This story was reported by M. Ray Perryman at Odessa American (oaoa.com). To learn more about how The Odessa selects and reviews stories, see our editorial standards .
Where can I find related coverage? See more business coverage from The Odessa, or browse our daily briefing and topic hubs .
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