Partner Article

Creative Industries provide £90m boost to regional economy

Creative industries in the North East contribute over £90 million to the North East economy annually, an increase of 37.6% over the past 6 years.

The study, commissioned by Northern Film and Media. showed that film and television makes the greatest economic impact, generating £58 million annually, while interactive media and music have added a further £20.6 million and £12.1 million respectively.

Since 2005, numbers of creative companies have increased by 25%, and employ over 2,000 individuals in the region.

Many of these businesses have grown through the support of Northern Film & Media funding, who have leveraged over £80 million for 650 companies since its launch in 2010.

This funding comes from the ERDF Competitiveness Programme 2007-2013, which will bring over £300 million to the North East to support innovation, enterprise and business support in the region.

Tom Harvey, chief executive officer of Northern Film & Media commented: “We commissioned the study to provide an accurate snapshot of the nature and complexion of the North East creative industries at a time when public funding is being withdrawn from the sector.

“The impressive growth in GVA, employment and number of creative firms demonstrates the potential of supported creative industries to transform the complexion of the North East industry”

Most creative industry employees work in the Newcastle Gateshead, but hubs are growing elsewhere in the region, notably in Darlington and Hartlepool.

However the sector still faces some challenges, with 34% of respondents still finding it difficult to win contracts, and 17% struggling to find skilled workers.

This was posted in Bdaily's Members' News section by Ruth Mitchell .