Innovative cultural projects, libraries, museums and creative industries will soon be able to apply for a share of a new £250 million Culture Investment Fund. The aim of the fund is to drive local economic growth, support young people, and reinforce culture’s role at the heart of communities.
Of this new funding over £125m will be invested in regional museums and libraries around the country. More than £90m will be provided to extend the Cultural Development Fund which uses investment in heritage, culture and creativity to drive regeneration and growth.
A further £18.5 million has been allocated to York’s National Railway Museum, and an extra £7 million for Coventry and the UK City of Culture programme.
In total, over the next 5 years, the Department for Digital, Culture, Media and Sport will invest an additional £50 million each year in culture and the creative industries across England to revitalise existing assets and to support new cultural development.
Arts Council England, The National Lottery Heritage Fund and Historic England will play important roles in distributing the fund.