OMDC Gives $2.9 M to Boost Innovation in Province's Creative Economy

TORONTO, Feb. 10 /CNW/ - The Ontario Media Development Corporation (OMDC) proudly announces that it has invested $2.9 M in funding support through its Entertainment and Creative Cluster Partnerships Fund (the Partnerships Fund) to leverage an additional $7.1 M from 94 partners to support 17 innovative projects. (http://www.omdc.on.ca/AssetFactory.aspx?did=6761)

The Partnerships Fund was designed to help Ontario's entertainment and creative industries invest in smart ways to grow and increase their competitive advantage in the global marketplace. The industries eligible for funding include book and magazine publishing, music, film, television, interactive digital media and commercial theatre.

One of this year's recipients, CASO, received money to support a suite of web-based social networking and marketing tools that will strengthen links between its members - improving member outreach and recruitment and providing a centralized marketing platform for employment opportunities in this sector.

Another fund recipient is "Spotlight on India", an initiative that will run during Canadian Music Week to promote Indo-Canadian artists to their natural markets overseas. Exploiting Ontario's cultural mosaic, there are opportunities to foster direct contact between the province and international buyers, and strengthen business relationships with India.

The entire entertainment and creative cluster produces $15 billion in revenue and over 200,000 jobs, contributing $12.7 billion to the province's GDP. These industries all experienced growth in 2009.

Started in 2006, the Entertainment and Creative Cluster Partnerships Fund has provided $9.7 M in support to 60 projects involving 379 partners and leveraging $23 M.

QUOTES

"The entertainment and creative cluster is one of the fastest-growing sectors in Ontario's economy. Our government is proud of the investments we have made in the culture sector, which are driving economic growth and contributing to a great quality of life for Ontarians."

- The Hon. Michael Chan, Minister of Tourism and Culture

"The Entertainment and Creative Cluster Partnerships Fund has encouraged innovation, new business partnerships and growth across Ontario's burgeoning cultural media industries and academic institutions over the past four years. In doing so, it has helped our knowledge-based industries to compete more successfully in a highly-competitive global environment."

- Karen Thorne-Stone, President & Chief Executive Officer, Ontario Media Development Corporation.

"With this financial assistance, computer animation and visual effects studios in Ontario will be in a much stronger position to better showcase the cutting edge work of our members. Ultimately this will contribute to more innovation and jobs in Ontario."

- Michael Carter, President of the Computer Animation Studios of Ontario (CASO)

"Ontario music companies must access and succeed in the international marketplace in order to prosper. The Entertainment and Creative Cluster Partnerships Fund provides the support needed to establish and expand cultural trade which ultimately benefits our musicians and Ontario music lovers. This investment will pay substantial returns for years to come for which we can thank the Government of Ontario and the OMDC."

- Duncan McKie, President and CEO Canadian Independent Music Association (CIMA)

QUICK FACTS

    
    -   Between 1999-2007 Ontario's Cluster created over 80,000 net new jobs
        in Ontario -- an increase of 38.3% compared with 17% in the overall
        provincial economy.
    -   In September 2006, the Entertainment and Creative Cluster
        Partnerships Fund was established as a three-year $7.5 M fund to
        stimulate growth in Ontario's entertainment and creative industries
        by promoting capacity building, marketing, innovation and skills
        development.
    -   In 2009, the Government announced a $12 M, four-year extension to
        this Fund.
    

LEARN MORE

Ontario Media Development Corporation (OMDC) (http://www.omdc.on.ca/Page3283.aspx) is an agency of the Ontario Ministry of Tourism and Culture (http://www.culture.gov.on.ca/english/index.html) that facilitates economic development opportunities for Ontario's cultural media industries including book publishing, film and television, interactive digital media, magazine publishing, and music industries.

    
    -------------------------------------------------------------------------
                                                              www.omdc.on.ca

                                                     ontario.ca/culture-news
                        (http://www.culture.gov.on.ca/english/about/news.htm)

                                                      Disponible en français
    

SOURCE Ontario Media Development Corporation

For further information: For further information: Contact for OMDC: Sharon Wilson, OMDC Communications, (416) 642-6616, E-mail: swilson@omdc.on.ca; Contact for Minister Chan: Alicia Farrow, Minister's Office, (416) 325-4543; Lisa Robart, Communications Branch, (416) 212-3928

Organization Profile

Ontario Media Development Corporation

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890