Finally, the welfare and success of the arts sector relies to some extent on financial provision from the city. London and Toronto make allowances for these kinds of demands and see them not as philanthropy, but as investments in wealth creation.[1] The uniquely high growth rates of the sector and its expanding level of employment ensure that it is a worthy receptor of capital to further stimulate its growth. In its economic development strategy Toronto stipulates for the funding of initiatives that will ‘maintain and grow employment’ in creative industry sectors.[2] More specifically, it set a target, to be reached by 2008, of CAD$ 25.00 per capita to represent its total cultural investment.[3] It has a dedicated funding agency, the Toronto Arts Council, in charge of distributing capital and supporting locally based individuals and organisations of the arts sector.[4] Similarly, London’s cultural strategy calls for the funding of areas in the arts that add value for London, such as: international promotional festivals for business and public audiences; training, business advice, and support; and networks or initiatives that encourage collaboration and investment within the creative sector.[5] Other reports emphasise the need for targeted support of the sector, suggesting that it is liable to suffer from ‘the aura of exceptionalism’; the presumption that simply being creative is enough to turn a profit.[6]
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[1] AuthentiCity, p. 3
[2] Toronto Mayor’s Economic Competitiveness Advisory Committee, p. 41
[3] Toronto Culture (2008). Culture Plan Progress Report II. Toronto. p. 9
[4] AuthentiCity, p. 13
[5] Greater London Authority (2004). p. 11
[6] Greater London Authority (2008), p. 27