The new Marlowe Theatre will help revitalise and regenerate Canterbury city centre, at the same time as drawing in an estimated £22.6million to the local economy and helping to secure hundreds of jobs.
The new Marlowe Theatre, along with other projects such as Turner Contemporary in Margate and the Creative Quarter in Folkestone, will establish East Kent nationally as a leading destination for culture and the arts.
This will bring an increased number of tourists to the district, particulary cultural tourists, who are more likely to stay for longer and spend more money in local shops and businesses.
The exisiting Marlowe Theatre is one of the largest creative businesses in Canterbury. Its impact on the local economy is already significant. For example in 2008, 66% of theatre tickets sold came from outside the district, which equated to 187,510 theatre trips to the City. Those residents visiting the theatre from outside the district contribute towards the local economy during their visits, through expenditure on leisure, retail and food.
However, the new Marlowe will have the potential to make a much greater impact in terms of increased economic growth and job creation. The City of Imagination Report, commissioned in 2005, estimated that in terms of measurable economic impacts, a New Marlowe would inject over £22million per annum (representing an additional £8.7million per annum above the figure of £13.8m in 2006/07) into the local economy and would create and/or safeguard 285 jobs (an increase of 105).