Canada’s federal government has renewed its Creative Export Strategy for an additional three years.

The renewal was unveiled as part of the 2022 Fall Economic Statement presented by Deputy Prime Minister and Finance Minister Chrystia Freeland (pictured), with $57 million earmarked over the next three fiscal years, ending in 2025-26. The Statement outlines that $19 million will be provided per fiscal year.

The Creative Export Strategy was first announced in 2017 as a five-year, $125 million investment in Canada’s creative export business, run through the Department of Canadian Heritage. The strategy included the $7 million Creative Export Canada program, which provides funding to companies and organizations with export-ready projects.

The Creative Export Canada program has also been extended as part of the strategy renewal, a spokesperson for Canadian Heritage confirmed to Playback Daily.

The strategy also mentions increased export support for Telefilm Canada and additional resources for Canadian embassies in areas such as New York, L.A., Paris and Berlin to further support Canada’s creative industries in key markets.

The fifth round of the Creative Export Canada program was handed out in August, with 29 organizations receiving support from the program. At the time, Canadian Heritage confirmed that the fifth round was the last of the initial investment, and stated that it was seeking a renewal of the program. Heritage said it “anticipated” that the next application date for the program would be in fall or winter of 2022-23.

The federal government projects a deficit of $36.4 billion in 2022-23, a more than 30% decrease of the initially projected $52.8 billion in the 2022 budget, according to the Statement. It also warned that “recession risks have risen” due to the slowing global economy.