Cultural Leaders Gather To Celebrate £171 Million Boost Arts and Culture Brings to Local Economy

Posted on 10 April 2014

Did you know that for every £1 of public money invested in Arts and Culture generates up to £4 for the wider economy of Coventry and Warwickshire?

This is just one of the significant messages that CW8 – Coventry and Warwickshire’s new strategic arts partnership – put to Arts Council England Chair Sir Peter Bazalgette on Tuesday 8th April. The Arts Council England Chair visited Warwick Arts Centre where he the group gathered to brief him on the significant boost they bring to the local economy.

The newly launched flagship group includes eight major arts and cultural organisations operating in Coventry & Warwickshire today. Current members include The Belgrade Theatre, Compton Verney, Coventry Cathedral, Culture Coventry, the Royal Shakespeare Company, Shakespeare Birthplace Trust, Warwick Arts Centre and Warwick Castle.

Between them, CW8 member organisations welcome just under 3.5 million visitors every year. They have a combined turnover of £88m, employ over 13,576 full time employees and work with over 1200 volunteers.

In a recent interview with BBC Midlands Today, Executive Director of the Belgrade Theatre and founder member of CW8 Joanna Reid emphasized the vital contribution of arts and cultural organisations to the wider regional economy:
‘The more that the public realise what they have on their doorstep, the more they will use it and value it. This not only means that arts organisations will attract more foot fall but that the government will see how important arts and culture are to people’s lives’
Catherine Mallyon, RSC Executive Director, and Board Member of Coventry and Warwickshire’s Local Enterprise Partnership added:

“We are proud to make a significant contribution to the quality of life for people who live in Coventry and Warwickshire. We help to make it a place where people want to live, a place where businesses want to invest and a place renowned across the world. We play a key part in the local economy, attracting visitors from across the UK and around the world and stimulating significant tourist spending across the region. We also spend money here, supporting other local businesses by purchasing supplies and services from within Coventry and Warwickshire, and we train and develop all our staff and volunteers, to nurture the talent of the future.”