The artsVest program launch is tonight from 5:00pm until 6:00pm at the Capitol Centre’s Galaxy Lounge. Business for the Arts announced its artsVest program would be returning to North Bay in January.
Business for the Arts is Canada’s only national charitable organization that helps strengthens arts and culture in Canada by building partnerships between the private and cultural sectors. With funding support from the Ontario Trillium Foundation and the Government of Canada, $30,000 in matching funds will be delivered to local arts organizations. The program will also receive local municipal support from the City of North Bay. The program works directly with small to mid-sized arts organizations, equipping them with in-depth training, tools and mentorships. These components are thoughtfully created to spark sponsorship opportunities. Participants in artsVest can apply for matching grants where for every one dollar raised in sponsorship, Business for the Arts will match it with another dollar which doubles their sponsorship opportunity.
Vice President of Business for the Arts, Aida Aydinyan says the generous funding and support from the Ontario Trillium Foundation, the Government of Canada and the City of North Bay speaks volumes to the importance and power of building relationships between the sectors. She says they look forward to seeing the incredible impact these arts organizations and businesses will have in the city over the next year. Mayor Al McDonald says there is a vibrant arts community in North Bay that helps to enliven and enrich the city’s cultural and social fabric, and cultivate the creative economy. He says this partnership will help them continue to grow and nurture participation in the arts to sustain and foster future growth.
The artsVest program saw a successful cycle in its pilot year in North Bay in 2012 where five arts organizations created 20 business partnerships. Matching funds of over $37,000 generated over $98,000 in private sector sponsorships and resulted in an investment impact of over $135,000 to North Bay’s cultural economy.
