Plymouth’s Ocean Studios have received confirmation that they are to be awarded £2,026,315 from the European Regional Development Fund. It will go towards establishing an artist-led workspace with high quality facilities along with an education and outreach programme in an ex-naval building in the city’s Royal William Yard. It is hoped that the project will kickstart regeneration in the area and create over 1000 new jobs within the creative sector in the South West.
The news follows a commitment from Plymouth City Council to provide a grant of £802,655 from its Investment Fund and to guarantee a Growing Places Fund loan of the same amount, thus releasing £3.27m of public funds to create affordable artists’ studios.
Leigh Mason, Business Development Director of Ocean Studios, said: “This ERDF funding is a huge step forwards for Ocean Studios and transforms our ability to deliver the project. Ocean Studios will be of national and regional significance and unlock economic and cultural value for decades to come.”
Leader of Plymouth City Council, Councillor Tudor Evans, said: “I’m delighted Ocean Studios have been able to secure European funding. We’re supporting this fantastic project and helping to bring together the different elements of funding because we believe in its potential to create jobs, skills and economic growth in Plymouth.”
For more information visit oceanstudios.org.uk
