Florida-based non-profit investment company John S. and James L. Knight Foundation revealed that it will commit $37 million in new financing to twenty-two Miami arts organizations.

The investment is part of the company's 10 year-long campaign to back arts in South Florida.

The commitment will also go toward safeguarding the future of the Knight Arts Challenge initiative, which helps realize art projects across the city.

John S. and James L. Knight also revealed the five winners of its first Knight New Work Miami initiative, who will share $500,000 to invest and perform original, groundbreaking works of theater, dance and music in Miami.