
The proposals, set out by Work and Pensions Secretary James Purnell and Culture Secretary Andy Burhnam, invite both the public and private sectors to bid for the new jobs, which will span various creative sectors.
The focus for the job creation is the public sector, particularly local councils. But private companies can also bid for the funding as long as the jobs "have a community benefit".
The Government is already working with the creative industries to put together partnerships including music and arts leaders, the Heritage Lottery Fund and Arts Council England.
The funding will be targeted primarily at 18 to 24-year-olds and is likely to be available this autumn.
Burhnam said: "Getting into to these sectors can be hard, especially for young people and those coming from disadvantaged groups and deprived communities."