The Ontario Media Development Corporation (OMDC) is the Ontario government’s agency that is responsible for economic development in book and magazine publishing, music, film, television and interactive digital media.
At the May 4, 2017, monthly meeting of the Canadian Ethnic Media Association (CEMA), Karen Thorne-Stone, OMDC’s president and CEO, was the keynote speaker.
In her address, Thorne-Stone told the gathering that the OMDC’s mandate is to fund the province’s creative environment for growth.
She said that the average annual results over the last five years show:
- Export Fund recipients earn approximately $183 in sales for every dollar invested by the OMDC.
- Book Fund applicants earn $3.22 for every dollar invested by the OMDC.
- Film Fund projects leverage an additional $25 for every dollar invested by the OMDC, and create approximately 12,000 weeks of work a year.
- Magazine Fund recipients earn approximately $1.55 in sales for every dollar invested by the OMDC.
- Former IDM Fund recipients leveraged an additional $1.66 for each dollar invested by the OMDC,and created approximately 4,600 weeks of work each year.
- Industry Development Program initiatives create approximately 40,000 new business leads and contacts for stakeholders annually.
In outlining the OMDC’s 5-year strategic plan, Thorne-Stone said the vision is for an “Ontario where our creative industries are globally leading and competitive; celebrate Ontario’s cultural vitality; and drive economic growth and development in the province.”
The mission is seen as a catalyst for economic development in Ontario’s creative industries through investment, promotion, and facilitation of innovation and collaboration, both domestically and internationally.”
As head of the OMDC Thorne-Stone “works to foster an advantageous business environment, facilitate innovation, provide support for cross-sector collaboration, enhances and leverages investment, and promotes Ontario as an international centre of excellence.”