How culture can unlock investment for city-wide initiatives
In the UK, cities account for about 9% of landmass, but deliver 63% of its economic output and 60% of jobs. Culture is playing an increasingly important role not only in cities' economic impact but in leveraging future investment.
The Cultural Cities Enquiry considered how we can radically increase the ability of our cities to drive inclusive growth through investment in culture. The main aims of the enquiry were to :
Consider the current channels and instruments of investment into culture in order to determine how these can be used to greatest effect.
Consider alternative models of channelling resources into culture – both economic and human.
Present practical recommendations for local and national policy-makers, influencers, funders and deliverers to aid city development planning.
The recently published report concluded that smart investment through cultural activities can most definitely bring enormous benefits to cities and their people. Independent chair of the enquiry, Jayne-Anne Gadhia, urged cities to establish city-wide plans to bring in higher levels of investment and make best use of cultural property assets to create what the report calls "the Cultural City Compact."
Read the full report here.