Today we applaud Premier Wynne and the Ontario Government on the passage of the 2015 Provincial Budget.
We are especially pleased by the extension of the Ontario Music Fund, a decision that solidifies a commitment to one of the province’s biggest assets: our music industry. The OMF not only stimulates Ontario’s economy through increased activity, it draws foreign direct investment, assists in the growth of live music, and places a focus on music tourism in the province.
Developed in 2013, the Ontario Music Fund began as a three-year commitment of $45 million dollars, which has now been made permanent through the passage of the 2015 budget. In its most recent round, the Ontario Music Fund awarded $14 million dollars in grants to 123 recipients from across a wide-range of music activities happening in the province.
“The extension of the Ontario Music Fund solidifies a commitment to economic growth in the province through targeted support to one of the province’s competitive advantages – music. The OMF not only helps music businesses large and small to produce, distribute, promote and stage a diverse array of artists but in doing so, it signals to Canada and the rest of the world that music matters in Ontario,” says Graham Henderson. “Investing in music is investing in Ontario – our members have invested $3.5 million in recording projects over the last two years that have since been completed in Ontario. The OMF is raising our provincial profile as a destination for home-grown and international talent.”
Since its inception, the Ontario Music Fund has helped create or retain 2,000 jobs and has produced $24 million in additional revenue for music-related businesses. We are thrilled to see these results continue over time as Ontario becomes a true music destination for consumers and creators alike.