General Finance & Development, Inc.

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Creative Economic Development Study Completed

Aug 20, 2015

OTC Disclosure & News Service

Minneapolis, MN -

A Creative Economic Development Study assessing the impact of visual art in commercial environments has been completed by college students majoring in Business and Art.  

Professor Timothy Murray, Adjunct Instructor at the University of St. Thomas and Consultant at Certus Advice directed the study and has completed a 32 page research paper based on the data collected. Business leaders from the Minneapolis - St. Paul metro area, who agreed to participate in interviews with the students, provided the data.

The project was sponsored by GFD subsidiary Art Force, a commercial art distribution and management firm headquartered in Minneapolis, Minnesota.

"The information contained in the study and the conclusions are revealing. Overall the report is very comprehensive and the findings are consistent with our own beliefs, and clarify many of the challenges faced by creative professionals in the commercial markets", stated William Kieger, President of Art Force.

The study suggests that visual art is of value in commercial environments:

  • The Fortune 500 and Enterprise market segments tend to value artwork more than Small-Medium size organizations.
  • Small-Medium size organizations place more value on measurable returns such as recruitment, employee retention, enhanced morale and increased employee productivity.
  • Selecting art from local artists scored the highest on average among all market segments.
  • Professional guidance and consulting by someone trained and certified in art knowledge is of value among Fortune 500 and Enterprise organizations.
  • Having an online showcase of artwork selections with artwork search options is valuable, but online tools for selling an existing collection, storing images and project management tools scored lower.

The complete 32 page report can be requested by contacting Certus Advice at or Art Force at  

The survey and research paper coincides with the Minneapolis 10-year Creative City Roadmap that is scheduled to be completed by year-end.

According to the Creative Vitality Index (CVI) completed in 2013 and updated in 2014, the Minneapolis -St. Paul area ranked number 5 in the nation, identified "as a hotbed of creative activity." A large number of organizations, both for profit and non-profit, represent the burgeoning art market in Minneapolis/St. Paul.

According to a recent article on, of the 150 largest U.S. cities, WalletHub ranked the Twin Cities area number 5 in the country for a college graduate to move to in search of a healthy career. The Twin Cities region boasts 18 Fortune 500 company headquarters. In addition to hosting the second-highest levels of economic activity in the Midwest (behind Chicago), the Minneapolis St. Paul area is a centralized hub for medical research and development, buoyed by the Mayo Clinic and University of Minnesota.

Many artists and related professionals in interior design and art consulting are located in the area and many are attempting to develop their professional careers. The Creative Economic Development Study helps quantify the opportunities in the marketplace for both art- related professionals and organizations who utilize their creativity to improve their work environments.

The foregoing material may contain forward-looking statements. We caution that such statements may be subject to uncertainties and that actual results could differ materially from the fore-going statements. Readers accordingly should not place undue reliance on these forward-looking statements which do not reflect anticipated or unanticipated events or circumstances occurring after the date of these forward-looking statements. More information regarding General Finance and Development including financial statements and reports is available at the companys website and


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