Capital of Culture reaches 90% of income target.
Liverpool?s year as European Capital of Culture in 2008 will attract £2bn in investment to the city, along with an extra 1.7 million visitors, according to the newly-published business plan of the Liverpool Culture Company. The plan sets out the aims of the Culture Company, which is planning and promoting Liverpool 08, and includes a timeline of events leading up to 2008. The £95m budget includes a dedicated £35m which will be spent on arts activity, with a further £11m for community arts projects and £12m allocated to marketing the city?s celebrations internationally. The Company has also set out plans to ?measure the impact of 2008 through an ambitious and integrated research strategy which has never been achieved by any previous European Cities or Capitals of Culture.?
The publication of the business plan may serve to rebut criticism which has been voiced in the city about the lack of clear progress on events for 2008. The business plan sets out an expansive programme with the involvement of organisations from across the city, including Bluecoat Arts Centre, FACT, Merseyside Dance Initiative, National Museums Liverpool, the Royal Liverpool Philharmonic and the Unity Theatre. Other public spaces are being developed throughout the city and will be used to present concerts, site specific performances and exhibitions. A total of £26.3m has been set aside to ?maintain, enhance and grow the cultural infrastructure of the city.?
Councillor Mike Storey, Leader of Liverpool City Council, said, ?When the city council established the Liverpool Culture Company it was in [the] hope that the city would claim back a role on the world stage. Now we have great expectations and this plan spells out how we will stage the best ever European Capital of Culture.? The Culture Company also revealed that over 90% of its income target has already been secured; Liverpool City Council is stumping up the majority of the cash but significant contributions have been made by Arts Council England and the Department for Culture, Media and Sport, and £12m is set to come from local business sponsorship. According to new research, the Capital of Culture designation has generated a wave of optimism among local people. In a recent survey, 80% of the city?s business leaders said they thought that being named European Capital of Culture 2008 would provide a boost to the Liverpool economy, while one in five businesses are planning to take on extra staff to cope with an expected upturn in business as a direct consequence of the celebrations.