SYDNEY, NSW (CelebrityAccess) — The Government of Australia has pledged $250 million in relief funds to safeguard jobs in the nation’s beleaguered arts community.
A range of new grant and loan programs will roll out over the next 12 months to different parts of the arts sector. The financial measures are intended to support the $112 billion creative economy and the more than 600,000 Australians it employs, the government said.
The support package includes:
- Seed Investment to Reactivate Productions and Tours: $75 million in competitive grant funding in 2020-21 through the Restart Investment to Sustain and Expand (RISE) Fund. The funding is intended to help production and event businesses to put on new festivals, concerts, tours and events as social distancing restrictions ease, including events using digital distribution. Grants for the program will range from from $75,000 through to $2 million.
- Show Starter Loans: $90 million in concessional loans to assist creative economy businesses to fund new productions and events that stimulate job creation and economic activity. The loans program will complement the RISE Fund and will be delivered through commercial banks, backed by a 100 per cent Commonwealth guarantee.
- Supporting Sustainability of Sector-Significant Organisations: $35 million to provide direct financial assistance to support significant Commonwealth-funded arts and culture organisations that are at risk due to COVID-19. Eligible organizations include theatre, dance, circus, music, and other fields. Loans will be granted through a partnership with the Australia Council.
“We are backing over 600,000 Australians in the cultural and creative sectors whose work contributes $112 billion to our economy. These sectors have been hit hard during the pandemic, and the Government’s investment will play an important role in the nation’s economic recovery,” Minister Fletcher said.
“We are injecting $100 million per month into the arts sector through the JobKeeper program and cash flow assistance, delivering an important lifeline for many businesses, but as social distancing restrictions ease, our plan supports businesses getting back on their feet and getting people back in jobs.”