Let's get academic-- about our market!

We owe you an explanation, a detailed one, about our vision-- so it's time to get a little technical. Creativity has been a buzz word as of late, but why?

The idea of a knowledge economy isn't exactly novel-- as Peter Drucker wrote in the early 90's knowledge is surpassing capital and labor as the pivotal factor of production. Richard Florida in his own work develops the idea further to describe the factor of creativity, largely tied with the ability to innovate within the new economic structure; the practical case studies in which economic crises lead to the use of creative industries to aid in economic recovery put these theories to the test all over the world.

Why is this important? The literature has signaled to entities smaller than the very traditional economic unit of the nation, such as cities, that creativity can aid in regeneration, development, and a branding or re-branding effort. This has been studied in cases ranging from mining towns in Australia, peripheral regions from Africa to Ireland and urban areas closer to home. Jane Jacobs is credited with putting forth an idea that talent clusters with talent, leading to a creative district-- or destination-- within an even smaller area than a municipality. Cue a whole array of literature on the development of these districts-- and the effects on the economy, quality of life and overall brand of an area (as a case study, Brick Lane in London branding itself as "Banglatown" to sustain tourism and the economy in an area formerly focused on the now declined textile industry, is fascinating).

We want to take this to an even more micro-level; our market. Let's say our market day represents activity in a mini district. We've determined the importance of creativity-- so it's easy to say that our market day will increase traffic to our micro-area of town, leading to economic gains for our creatives and spillover business in the area (maybe you want to go out to lunch or shopping in nearby Bexley after the market?); branding our own business-- try coworking at our space!-- and perhaps innovation (we have some exiting announcements following market day, stay tuned, Columbus!).

But if our entity is the (much) smaller sister of a municipality, and our artists form the the cluster in this academic experiment, how do we manage the composition of artists to yield the best benefits to our cluster (a.k.a. the artists themselves), entity (a.k.a. our space), and neighborhood (serving as the tiny cousin of a region in this example)?

Research undertaken in Miami shows that when the creative industries are diverse and not specialized, the most positive effects were noticed on the urban economy (read more from the source: Yum, S. (2016). The Economic Growth of Creative Industries in the Miami Metropolitan Area. Creative Industries Journal, 9(2), 130-145). Squeezing this example down for our purposes-- a diverse range of artistic practices can have the greatest benefit for our artists, space and neighborhood. We propose that visitors who come to support one artist might find joy in a completely different genre from a different artist as well. And so, we are proud to present a wide array of practices at our market day--and just as cities support the formation of clusters/districts, often times directing municipal funds toward this end, we too are going to support our artists, space and neighborhood. We only charge each artist $10 to sell at the event, so we can prove we believe in this vision, in creativity and our neighborhood.

Our values remain: connectivity, creativity, sustainability and growth.

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