Mayor Michael R. Bloomberg announced five initiatives to bolster the city's cultural sector. The initiatives will be administered by the New York City Economic Development Corporation (NYCEDC) in partnership with the Department of Cultural Affairs. The Mayor cited the Alliance for the Arts' research, which indicates that the city's arts industry generates over $5.8 billion in economic impact. The initiatives provide space for art exhibitions, specialized job training and financial guidance to cultural institutions and artists. In addition, NYCEDC has released an RFP to identify two art clusters to receive challenge grants, which must be matched by local arts organizations and businesses. The grants are for marketing to attract local and citywide audiences. For information about these programs and the RFP, visit www.nycedc.com.