Creative and Cultural Industries Study to Guide MSMEs Toward Investment Readiness

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Latest Jamaica News (McKoy’s News): Nine categories of Jamaica’s Creative and Cultural Industries (CCIs) are to be studied under and Operation Alliance Agreement between the Jamaica Business Development Corporation (JBDC) and the British Council.

The agreement which was officially signed at the JBDC Incubator and Resource Centre in Kingston on August 8, is aimed at gathering important data on the CCIs in Jamaica.   The areas to be covered are Music & Entertainment Industry; Architecture & Design; Art & Craft; Film & Animation; Performing Arts & Theatre; Fashion, Culinary, Sports and Tools of Trade & Equipment.

According to the JBDC, it is expected that additional industry categories will be included later in the process.

The objective of the mapping exercise is to define the creative economy substantively and provide a guide for MSMEs within the industries to become investment-ready. The mapping process will also seek to calculate the contribution of the creative economy to the wider economy and identify ways in which the JBDC can support the industry going forward” the organization said in a news release.

Officially titled ‘Mapping the Cultural and Creative Industries in Jamaica’, the information captured will review and update existing strategies and action plans for the development of CCIs in Jamaica as the first step towards a comprehensive mapping exercise.

Speaking at the signing ceremony, Deputy Chief Executive Officer of the JBDC, Harold Davis said creativity will be the fuel of the 21st century, as while up to 47 percent of jobs in the United States for example, could be replaced by machines in the next two decades, the creative sector was largely immune to this threat, with 86 percent of highly creative jobs, having no or low-risk of being displaced by automation.

In his comments, Director at the British Council, Olayinka Jacobs-Bonnick, said the partnership between the JBDC and the British Council was important for the development of CCI in Jamaica.

Minister of State in the Ministry of Industry, Commerce, Agriculture and Fisheries (MICAF), Floyd Green, in his address, said the initiative was long overdue as anecdotal stories about Jamaica’s cultural power were insufficient to measure and value the industry.

Jamaica is a cultural powerhouse but we must be able to measure its impact and accurately value its contribution to the economy,” Green said.

The Minister also added that other countries that have done the mapping of the CCIs have substantiated the impact of the sector on economies worldwide.

The signing of the Operation Alliance Agreement comes on the heels of JBDC’s Small Business Expo & Conference held in May this year. The event which was held under the theme Monetizing the Orange Economy: The Future is Creative highlighted the importance of the Creative & Cultural Industries in Jamaica and initiated the conversation about the economic benefits to be gained from the industry.

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