Business for the Arts celebrates impact of artsVest™ program in 10 Ontario communities

Business for the Arts, Canada’s national association of business leaders who support the arts, announced today the successful completion of the artsVest™ program in Markham, Hamilton, Barrie, Guelph and Huntsville, and the next round of pre-approved participants in Elliot Lake, Midland, North Bay, Ottawa and Windsor.

artsVest is a matching incentive grants and sponsorship training program of Business for the Arts funded by the Government of Ontario, the Ontario Trillium Foundation and Canadian Heritage. The program offers capacity-building sponsorship training workshops and resources to small- and mid-sized cultural organizations to spark business investment in arts and culture, bolster municipal cultural plans and help develop the creative economy.

In the five communities of Barrie, Guelph, Hamilton, Huntsville and Markham, a total of $663,497 in sponsorship was secured by 46 participating arts organizations from 185 businesses, 128 of which were first-time sponsors of the arts. With artsVest bringing $275,000 in matching funds, the program created an overall economic impact of $938,497 across Ontario.
For 2012-2013, 57 diverse and enthusiastic arts organizations have been pre-approved for funds in Elliot Lake, Midland, North Bay, Ottawa and Windsor. Participants in these five Ontario communities have begun the six-month sponsorship phase, where they will reach out to their local business community to match the $250,000 in artsVest Ontario funds to help generate new revenue streams.

“artsVest impacts every community it enters and we are delighted at the success of the program in Markham, Hamilton, Barrie, Guelph and Huntsville. By bringing together local businesses and arts and culture organizations, artsVest has helped forge meaningful partnerships that will strengthen local cultural assets,” said Nichole Anderson, President and CEO of Business for the Arts. “We look forward to seeing equally wonderful results in Elliot Lake, Midland, North Bay, Ottawa and Windsor next year.”

Since 2005, artsVest has been in 21 municipalities across Ontario, providing $1.06 million in matching funds to local cultural organizations and sparking $2.06 million in local private sector sponsorship. artsVest’s impact to date includes partnerships between 687 businesses and more than 226 arts and culture organizations in Ontario. The program has initiated first-time investments in the arts from 408 businesses. The artsVest program currently operates in Ontario, Calgary, Saskatchewan, Winnipeg and Vancouver. For more information on the program, visit www.artsVest.com.

Business for the Arts aims to strengthen arts and culture in Canada by connecting arts organizations to business patrons and volunteers through our artsScene and boardLink programs; by providing arts organizations with matching incentive funds to stimulate business investment and professional development resources to improve their sustainability through artsVest; by
communicating the value of investing in the arts through advocacy and research via our Roundtables and Surveys; and by providing a platform for arts organizations to celebrate their outstanding business partners in the arts through our National Awards Gala and media partnerships. For more information, visit www.businessforthearts.org.