Want the region to grow? It's time to really start thinking creatively about the creative economy, and give the cultural sectors their due

Attention is currently focused, and deservedly so, on digging ourselves out of the recession and making sure the little green shoots that have begun to sprout are nurtured. However, we should be looking beyond 2010.

Atlantic Canada is steeped in tradition and while we should not forget the past, we equally should not be shackled by it as we chart the future we want for our region.

There are demographic challenges facing the region, and we need to work with the assets we have as well as augmenting our labour force by repatriating displaced Atlantic Canadians. We also need to encourage many of our international students to stay past graduation. To achieve this, we need an economic base that is both innovative and globally competitive.

Two decades ago, Michael Porter developed the "Diamond Model" of economic clusters, and more recently he has extended his work to examine the relationship between competition and society. We can add to this the work of Richard Florida who, through his "Bohemian Index," focused on the creative elements of an economy—the arts, culture, and diversity.

Both authors can illustrate cities and communities that have embraced the need for a creative gene. They have built on the education, research and development potential, and artistic assets they possessed to create an economic/societal vibrancy that rebuilt community confidence and arrested the out-migration of population.

As many of the new industries of the 21st century are footloose and free to move, they will be attracted to relocate to these communities, and the virtuous cycle continues.

So how do we build such a success story in our own communities?

The first thing we have to change is the perception that the arts and cultural sectors such as theatre, music, film, museums, galleries, dance, and fine arts are mere add-ons and passive takers of the income and wealth created in an economy. They have an important economic impact contributing over 7% to GDP in 2007, according to the Conference Board of Canada.

As global trade in creative goods and services is also expanding rapidly, there is an international competitiveness dynamic here too.

Secondly, following the Porter and Florida theses, elements of the creative economy can be a catalyst for change when combined with the post-secondary education system, R&D infrastructure, and culture of entrepreneurship.

Together they can become the magnet that retains and attracts talent and new enterprises, sustains communities, and provides the creativity that is essential in the post-industrial knowledge economy. This is not just an urban phenomenon, though there is the need for scale to maximize the benefits from some of the partnerships.

If you accept this argument, then the easy answer for the future is simply to provide more funds from all levels of government. However, as I regard the creative capital that we possess as both a public and private good, then we cannot leave it just to governments.

There is a responsibility that goes beyond providing support by means of donations and participation in events. We as citizens should be providing, in partnership with governments and the corporate sector, the vision and leadership for building a growing and sustainable creative economy that will help provide our response to the key challenges Atlantic Canada faces—demography and global competition.

This will not be an easy task as it will involve a commitment of time and money to map out the assets we have, benchmark against best practices elsewhere, and establish a road map with clear priorities for funding—both public and private. But this will be an investment in the future of the region.

J. Colin Dodds is president of Saint Mary's University in Halifax and a professor of finance in the Sobey School of Business.