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The 'cultural renaissance' flagship projects are ambitiously aiming to revive Toronto's cultural status and economy.
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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BACKGROUND: Arts and culture play a pivotal role in the economic life of any urban city. Toronto, the cultural capital of Ontario, is no different from other major urban cities of North America that strive on their culture, heritage and arts. As a major economic engine, the cultural industry provides over 190,000 cultural jobs in Toronto and generates about $9 billion of gross domestic product each yeari. In spite of these numbers, Toronto has suffered a steady decline in funding from the government. Lack of commitment by the government towards the arts is costing the city enormously. After a decade long economic boom, Toronto has embarked upon major renovation projects dubbed as the 'Cultural Renaissance' to invigorate its cultural sector and tourist industry after the events of 9/11, SARS and Blackout in 2003. In May 2002, the federal and provincial government committed approximately $233 million for seven capital projects as a...
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