Newcastle upon Tyne Economic Impact Assessment TRENDS 2009- 14 - PowerPoint PPT Presentation

Jim Beirne MBE, Live Theatre, Newcastle upon Tyne

Economic Impact Assessment TRENDS 2009- 14

Many things over recent years • £300,000,000 culture led regeneration over 20 years • 10 organisations 17 buildings • Economic Impact Study – over 6 years • Shared approaches to knowledge, training & diversity • The Unusual Suspects -Big Data Project – 500,000 records 20% crossover • Focus on C&YP – City of Dreams

NGCV ’ s independent, annual Economic Impact Assessment is produced by ERS and available online with other information about NGCV at http://ngcv.tv *Visitor spend in Newcastle and Gateshead area . Total additional visitor spend in the NE region was £ 7.3m generating 147 FTE jobs

Culture & Economy Any great city is built on the twin pillars of culture and economy Bringing value & transforming the city – Culturally, Socially, Economically

Mission - New Writing Producer From it’s base on Newcastle’s quayside, Live Theatre; • Creates and performs new plays of world class quality • Finds and develops creative talent • Unlocks the potential of young people through theatre • Future thinking – new models

Co Productions West End Tours International Olivier Award Best New Plays

First Draft to Live Tales

Social Enterprise • Looking to the future – new models of increasing income – Social enterprises • Looked at what we had, examined our assets; our people, our ideas, our buildings • We wanted to create long term income • Knew it had to be about building our asset base & creating revenue

Social Finance Funds • Notion of using debt to build • From grant, to government finance, to soft loans, to commercial loan/equity • Live Works - a mix of prudential borrowing and grant • Assets from £5-16m, net income of £600k from 2018 • Equivalent to £30m endowment on current returns

4 Social Enterprises + others

1. The Broad Chare Joint Venture with Cafe 21 Group • Live Theatre owns the freehold • Raised £410,000 mix of grant and soft loan • Run by former Michelin star chef, Live receives 10% of turnover • Nets a play a year, £125,000 pa…..

The Broad Chare Michelin Star Restaurateur

The Writers Block Scotch Eggs

The Times

2. Beaplaywright.com

3. The Schoolhouse • Attached to Live Theatre, part of the group of historic buildings • Raised £1m, Arts Council, European regeneration. • Generates an income of £35,000 as a small business Cultural Hub • Combines creative talent and enterprise

The Schoolhouse SME Incubator

The Schoolhouse SME Incubator

Live Works SME office block, Park, Children’s Writing Centre, Endowment

4. Live Works – Cultural, Social & Commercial Asset • Cost £11million - £5 m to purchase, £6m to build • NCC loan £6m, European grant £2.1m, fundraising £2.9m • Initial net income of £300,000 • Cultural, social, financial and political return

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Our audiences Our Youth Theatre The Broad Chare plus others … University Partners Artists & Caffè Vivo Students Live Theatre’s Communities Live Tales – Children’s New Businesses: Writing Centre Schoolhouse Park New Businesses: Families Volunteers Live Works

Culture & Economy • Transformed - and transformed this corner of the city, audiences, young people, & artists • Restored ancient buildings given them a future • Engaged with many different communities and partners with the highest quality work • From 2010 created £5-15m assets, by 2018 £1m income annually. • As a result we have many more and deeper roots

www.live.org.uk Twitter: @LiveTheatre Facebook: www.facebook.com/livetheatre