The Getty Museum's, Pacific Standard Time brought together dozens of museums to celebrate the historically under-recognised art of Southern California from 1945 to 1980. The Getty invested $12 million directly into this initiative – about $10 million in grants to more than 60 participating museums and other non-profits to research and stage exhibitions, and the rest for events and marketing.
Hailed as a tremendous success, PST changed a cultural stereotype – that the city has no history – and now a study says the collaborative venture also had a significant economic impact on the region. According to a report released this week, the Getty's $12 million investment in Pacific Standard Time generated almost 10 times that amount in spending by tourists and local residents, which is good news for those in cultural tourism.
However, Getty Trust President Jim Cuno has been careful not to overplay the economic benefits. “It appears that the numbers are good, and it's worth sharing those numbers with the general public,” he said. But he called any revenue generated a byproduct of Pacific Standard Time's mission, described as “the preservation and documentation of the region's artistic legacy and sharing it through public exhibitions.”