Press release: Budget increase for Placements Culture: Excellent news for private cultural funding

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Added on 24 August 2006 in Press releases

Press release

Budget increase for Placements Culture:
Excellent news for private cultural funding

Montréal, August 24, 2006 – The Board of Trade of Metropolitan Montreal is very pleased to learn that $5 million will be added to the budget of Placements Culture, as announced today by Mrs. Line Beauchamp, Quebec Minister of Culture and Communications and responsible for the Montreal region. This initiative will encourage financial support for cultural organizations by the private sector.

“The increased budget for Placements Culture and the continuation of this program will most certainly help to change Quebec's philanthropic ethic concerning culture. Moreover, after its splendid beginning, and with encouraging results, we are more than ever convinced that this initiative has the potential to bear fruit in the years to come,” says Isabelle Hudon, president and CEO of the Board of Trade of Metropolitan Montreal.

The approach taken by Placements Culture allows for conditions to be introduced that will encourage, on the long term, the private sector to increase their contribution to the financing of cultural organizations. It is for this reason that the Board of Trade hoped that the program's budget would be continued and maintained over a long enough period of time to respond to the crying needs of the cultural sector and, above all, to have a profound influence in supporting patronage within the community.

“A recent study by the Board of Trade showed the insufficient participation of the private sector in financing culture, and we applaud this program for its relevance. We are convinced that it will stimulate philanthropy toward the cultural sector, and increase support from the private sector to reinforce the efforts of our artists to spread Quebec's culture and creativity. For business people who give financial support to cultural organizations registered with the Placements Culture program, there is not only the tax advantage usually linked to this type of donation, but also the benefit of providing powerful leverage for the cultural dynamism of Montreal,” Isabelle Hudon adds.

The Board of Trade of Metropolitan Montreal has some 7,000 members. Its mission is to represent the interests of the business community of Greater Montreal and to provide individuals, merchants and businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is the largest private organization in Quebec dedicated to economic development.

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For information:
Chantal Roby
Coordinator, Communications
Board of Trade of Metropolitan Montreal
Tel.: 514 871-4000, ext. 4088
croby@ccmm.qc.ca