The Ford Foundation has announced the launch of ArtPlace, a public-private collaboration designed to drive revitalization in cities and towns by putting the arts at the center of economic development.
The project is backed by the support of many private foundations. Foundations include Ford, James Irvine, John S. and James L. Knight, Kresge, McKnight, Andrew W. Mellon, Rasmuson, Robina, and Rockefeller foundations, as well as Bloomberg Philanthropies, and an anonymous donor. Six major financial institutions, Bank of America, Citi, Deutsche Bank, Chase, MetLife, and Morgan Stanley, kicked in a $12 million loan fund to help start the project.
ArtPlace also partners with federal agencies such as the National Endowment for the Arts, Housing and Urban Development, Health and Human Services, Agriculture, Education, and Transportation, along with leadership from the White House Office of Management and Budget and the Domestic Policy Council. Federal support comes in the form of participation in the ArtPlace Presidents Council and its operating committee meetings.
A recent article in the New York Times discusses some of the projects that ArtPlace is supporting through its initial grants of $11.5 million, such as the 5M Project, a project of Intersection for the Arts and Forest City Development. For a complete list of ArtPlace supported project, visit the Ford Foundation website.
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