£5.2m investment establishes business hub for growing sector

23 October 2009

Liverpool's emerging Creative Quarter is to have its own dedicated business hub to help ensure the future prosperity of the digital and creative sector, thanks to a £5.2 million investment from the Northwest Regional Development Agency (£3 million) and Northwest European Regional Development Fund (£2.2 million).

Led by Liverpool Vision and Merseyside ACME, the establishment of the Community Interest Company, Baltic Creative reflects the impact digital and creative industries are increasingly having on Liverpool's economy.

The investment builds on the developing cluster of creative activity already in the area, which includes visual arts, gallery space and live music and recording venues.
Baltic Creative will acquire and manage property assets in the area, promoting it as the centre for the creative sector in the city. Each property will be converted on a phased basis to provide offices and studio spaces suitable for creative and digital businesses.

The development aims to support more than 60 businesses, create 2,790 sq m of improved floorspace and once at full capacity, is expected to contribute £1 million per annum to the Liverpool economy.
Steven Broomhead, NWDA Chief Executive, said:

"The creative and digital industries sector is strong in both Liverpool and the region, which is why it has been identified as a key growth sector. Liverpool's Baltic Triangle area presents a unique opportunity to develop a natural network of creative businesses in one location, building on the strong creative activity already underway in the area. Liverpool's reputation as a business location is going from strength to strength, and this project will create another asset for the city's business reputation, creating new jobs and levering in new investment."

Jenny Douglas, Head of City Centre at Liverpool Vision, said:

"The area is beginning to emerge as a vibrant business hub with a real mix of activity from old established businesses to new cutting edge concerns but we need to sustain this energy.

"It's vital that creatives are in the heart of the city and not left on the edge and these plans for the Baltic Triangle will help support and increase the vibrancy by attracting new companies, new ideas and new connections, so that the digital and creative sector can prosper."

A new board of directors and an office manager are currently being recruited while details on opportunities to use Baltic Creative spaces will be available in the coming weeks.
David Clark, Chair of Baltic Creative, said:

"I believe this is a once-in-a-lifetime opportunity to develop a creative and digital business centre. This development is a valuable step towards supporting growth in the creative and digital industries and stimulating an already thriving sector.

"As a Community Interest Company, Baltic Creative is looking forward to working with other creative stakeholders in the area to promote economic growth in the sector."

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