Culture Quarter Financial Benefits

• Turnover - £1.2m in year 1, £2.8m in year 5;
• 1st year capital funding - access to £3m in capital funds not available to statutory bodies;
• 1st year revenue grant funds in the order of £250k pa from trusts and corporate sources;
• Playhouse & Dome off council balance sheet.

CQ Economic Benefits

• Investment and turnover stays in North Tyneside;
• Local multiplier - local company, local staff, visitors spending on local amenities:

(By the Arts Council multiplier 2.8 => £7.85m recycled in the local economy per annum);

• Inward investment - initial resources attracted in start-up; ongoing support drawn in for ongoing activity;
• Tourism - more hotel beds sold;
• ‘Not for profit’ - surplus re-invested in CQ’s and NTC’s cultural programme.

CQ Direct Benefits

• Jobs - 50 permanent posts for local people;
• Education - mind sports and the dramatic arts in schools and the community;
• Business start-ups - arts and culture incubators encouraging success.

CQ Broader Benefits for the Whitley Bay and North Tyneside

• Community benefits - broad engagement in vibrant programmes that encourage participation;
• Ownership - this proposal retains the Whitley Bay Dome and Whitley Bay Playhouse in community ownership;
• Enhanced reputation - a radical mind sports offer in combination with innovative delivery of the arts serving the interests of the local community;
• Successful regeneration of iconic premises and a renaissance of artistic activity in the Borough;
• The Council benefits from partnership with a dynamic, local, innovative company.

For further information on this or anything else simply contact us