TORONTO, Jan. 10, 2013 /CNW/ - A new investment from the Harper Government will stimulate corporate sponsorship and investment in the arts and culture. Funding for artsVest, an initiative of the association Business for the Arts, was announced by the Honourable James Moore, Minister of Canadian Heritage and Official Languages.

"Canada's arts and culture sector employs more than 630,000 people and contributes over $46 billion to our economy," said Minister Moore. "Our Government is proud to invest in projects like artsVest that stimulate our economy and promote jobs and growth. This is only possible through the help of the private sector, and from targeted government investments like the one today."

Since the program's launch in 2002, artsVest has created partnerships with over 960 businesses and more than 305 arts and heritage organizations across the country. Of these businesses, 602 were first-time sponsors of the arts.

"We are grateful to the Government of Canada and Minister Moore for their continued support of our national artsVest program," said Nichole Anderson, President and CEO, Business for the Arts. "artsVest has established itself as an innovative program that can create sustainable funding relationships for the arts, stimulate private sector investment, and build greater awareness in the business community of the benefits of investing in arts and culture and the importance of a thriving arts community."

"Hamilton's participation in the artsVest program was a boon to our city's socio-economic opportunities, as I believe in the transformative power of a strong arts sector," said Ilya Pinassi, General Manager, Upper James Toyota. "The artsVest program helped to increase arts funding from businesses who appreciated that their dollars would go further. For some, it was the beginning of a relationship between business and the creative sector. For others, like myself, it was the reinvigoration of an existing relationship that has resulted in our increased financial support of Hamilton's annual Supercrawl event threefold. Thank you for bringing the artsVest program to Hamilton."

Business for the Arts is a national association dedicated to building partnerships between the business and arts sectors. The organization's signature matching incentive and sponsorship training program, artsVest, is designed to build capacity in Canada's cultural sector. This program provides small and medium-sized arts and culture organizations with the expertise and tools to generate sponsorship opportunities with local business through training, matching incentive funds, and community networking events.

The Harper Government is providing a total of $2 million in 2013-2015 through the Strategic Initiatives component of the Canada Cultural Investment Fund. The Strategic Initiatives component provides funding for projects supported by multiple partners and benefitting many organizations. These initiatives help arts and heritage organizations diversify their revenue streams and strengthen the efficiency of their management and business practices.

SOURCE Canadian Heritage