Taking a page out of the Georgia state legislature’s book, the City of Atlanta and Mayor Kasim Reed last week announced the creation of the ‘Creative Industries Fund,’ a joint project between the Mayor’s Office of Film and Entertainment and Invest Atlanta that will help provide funding for local content creators.
The fund will offer loans with low interest rates and flexible repayment terms to entrepreneurs within the city limits who want to create and promote their art, whatever form that takes. Whether it’s film, music, or even video games, the CIF offers Atlanta’s creative workforce an opportunity to hone their skills in the city they call home while retaining talent and continuing to build up the local economy.
Much has been written about Georgia’s ascendance as the ‘Hollywood of the South,’ as it was named the number one place in the world to film movies and television shows in 2016. Since 2010 the industry has grown from $250 million per year to $9.5 billion, a staggering increase that shows no signs of stopping any time soon.
The CIF is not exactly the same as the tax breaks offered by the state to lure film studios in the first place, rather it’s something of a reverse – a ground-up approach to help content creators get their feet under them and join the city’s burgeoning entertainment industry.
“To ensure our city’s creative industries thrive for years and decades to come, we need to support our homegrown artists who are creating the next box office smash, hit music track, or top-rated video game,” said Dr. Eloisa Klementich, President and CEO of Invest Atlanta. “The Creative Industries Fund gives us a new tool to create jobs, retain our top creative talent, and strengthen Atlanta’s reputation as a global entertainment capital.”
Applications can be made on the website of Invest Atlanta, with a new a new Creative Industries Advisory Board created by the mayor to review and approve funding decisions starting next year.
