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28Mar

Sector Deal boost for creative industries

A groundbreaking Creative Industries Sector Deal between the Government and the Creative Industries Council has been announced today.

More than £150 million is being jointly invested by government and industry to help cultural and creative businesses across Britain thrive.

A Cultural Development Fund will also be launched for cities and towns to bid for a share of £20 million to invest in creative and cultural initiatives.

The Sector Deal aims to double Britain’s share of the global creative immersive content market by 2025, which is expected to be worth over £30 billion by 2025.

To seize on the opportunity of this expanding market, government is investing over £33 million in immersive technologies such as virtual reality video games, interactive art shows and augmented reality experiences in tourism.

Improving the nation’s skills is at the heart of the Government’s modern Industrial Strategy and to ensure the industry has the skilled workers it needs to deliver this, up to £2 million will be made available to kick-start an industry-led skills package, including a creative careers programme which will reach at least 2,000 schools and 600,000 pupils in two years.

The Sector Deal has been welcomed by the Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) which has identified creative industries as one of its 10 Opportunities for economic growth.

Research commissioned by the LEP shows that between 2011 and 2015, the number of creative firms in the region grew by 26% from 990 to 1,250. Employment in the creative economy grew by 12% to almost 27,000 (which is more than 10% of all employment), and economic output was up 7% to £2.73 billion, or 10.6% of all economic activity.

Cornwall and the Isles of Scilly is the leading rural region in the UK for creativity, thanks in part to huge investment in superfast – and now ultrafast – broadband, which has unlocked the potential of digital businesses and is attracting new ones.

The region has a booming software and tech industry with nationally-recognised clusters, and one of the world’s best arts universities in Falmouth. The Penzance creative industries cluster is among 47 across the UK highlighted by the Sector Deal.

Emmie Kell, LEP board member lead for the Creative Industries for the LEP, and Chief Executive of the Cornwall Museum Partnership, said: “This deal is good news for our creative industries and cements their position as a powerhouse of our economy. Our ambition is for Cornwall and the Isles of Scilly to be the destination of choice for creative businesses, fusing our rich artistic heritage with a fast-growing digital sector to create new businesses and jobs.

“We look forward to working with our creative industries to maximise the opportunities presented by the Sector Deal.”

Last month the LEP announced a £2 million investment towards the £20 million rebuild of the Hall for Cornwall in Truro. The LEP’s investment comes from the Government’s Local Growth Fund and will support the creation of 1156m2 of cutting edge workspace to nurture Cornwall’s booming Creative Industries sector.

A Creative Tech Hub will include support for post-graduates, new talent and start-up businesses to create a new digital and creative cluster.  A further £2m of European Regional Development Funding (ERDF) will support the hub.

Page last updated: 12:47, 28th March 2018
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