The Coventry City of Culture Trust appointed AMION Consulting in April 2020 to undertake the Economic Impact Assessment (EIA) for UK City of Culture 2021 (UK CoC 2021).
In seeking to achieve a more complete and better-grounded understanding of the benefits generated by UK CoC 2021, it was recognised that an innovative approach to EIA was required. This has avoided a ‘narrow’ version of EIA whereby only that which can be reliably monetised is included within the assessment (or recognised in any meaningful sense).
Economic Impact: Baseline Report
In July 2021, a baseline report was presented which detailed the economic activity and impact to the city region. The report was prepared to establish the baseline economic figures from which the economic impact of UK CoC 2021 would be measured.
The Baseline Report provides an indication of the investment secured by June 2021 as a result of being awarded the UK CoC 2021 in December 2017. This equated to over £172m, with an estimated further £51m of Gross Value Added (GVA) generated from capital works completed or underway through this investment. The report noted this investment sits alongside an additional £500m of city regeneration activity that has taken place since the award of UK CoC 2021.
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The Future Trends: Innovations in Economic Impact Assessment paper also explores this theme.
Graham Russell of AMION Consulting was part of the panel speaking at the Cultural Policy and Evaluation Summit, as the UK CoC 2021 year began, on 25 June 2021.
On 11 March 2022, AMION Consulting presented Implementing the Culture and Heritage Capital Approach as part of the Department for Digital, Culture, Media and Sport’s Valuing Culture and Heritage Capital Conference.