A new report has found that local cultural organisations brought £27 million into the city’s economy last year.
The Social Impacts of the Arts in Liverpool’s 2015/16 research found that the boost in the city’s economy came from several sources, from inward investment and the millions of visitors to the city.
Liverpool Biennial of Contemporary Art, FACT and Royal Court Theatre are just a few of the 36 organisations funded by Liverpool City Council’s Culture Liverpool Investment Programme (CLIP).
All 36 organisations were at the focus of the research as they looked at how culture in Liverpool affects the city’s economy.
The report commissioned by Liverpool City Council, also found that 29,840 cultural events took place during the research, with 66% targeting specific audiences.
Liverpool’s funded events and festivals created a footflow of 4.6 million people and additional funding from CLIP, saw £15.2m raised by both public and private sectors.
Mayor of Liverpool, Joe Anderson says: “This report acts as a reminder of the hugely important role culture and the arts plays in the life of this city, both for residents and visitors.
“We know about the economic boost generated by the sector, but what’s more important is the positive, priceless impact on the day-to-day life of residents and their communities shown in this report.”