CREATIVE businesses in Colchester add at least £332million to the town’s economy a year, a new report has found.

The town has been hailed a 'creative hotspot' with the new research which says within Colchester there are 865 creative, digital businesses employing around 6,587 people.

These make up 5.7 per cent of the town’s employment.

Colchester has been highlighted in the Government’s latest ‘Sector Deal’ for the creative industries, published at the end of March.

The council says this accolade could open a wide variety of opportunities because part of the deal includes a slice of a £20million Creative Development Fund.

This fund aims to help places like Colchester to encourage investment and create new jobs.

Another strand to the deal will invest a further £39million nationally in building new research and development partnerships between universities and business.

The Colchester Creative Group, an organisation which sets out action plans including to develop economic growth and tourism, welcomed the report.

Chairwoman Kathleen Hamilton said: “The strength of Colchester as a place in which the creative industries can develop and thrive is highlighted in this important Government report.

“The creative industries make an increasingly valuable contribution to the economy of Colchester and Essex and their importance, nationally as well as regionally, is recognised in the significant investment plans announced in the Government’s Industrial Strategy.

“Access to further targeted funds to develop and support growth is a fantastic opportunity for Colchester and will build on the successful industry, education and employment partnerships already established under the Creative Colchester Strategy.”

Recognised for ‘high growth and concentration’ of the creative industries around Colchester, the report draws on data from the Creative England and Nesta’s 2016 report, ‘The Geography of Creativity in the UK’, which ranked Colchester 20th out of 47 creative places in the UK.

A recent review of the creative industries around Colchester revealed that an increasing number of national and regional reports are featuring Colchester, and investments are following in a variety of creative, cultural and digital projects.

The report also found Colchester is a key location for start-ups and growth compared to other towns, has significant strengths in digital media and marketing, games development and data analytics.

Tim Young, the council’s portfolio holder for Business and Culture and Deputy Council Leader, said: “Where there is confidence, investment inevitably follows and that is certainly the case in Colchester where the sector is seeing multi-million-pound investments.”

Some examples of creative and digital projects include the £9million extension and refurbishment of The Mercury Theatre, which starts later this year, a new multi-million Curzon cinema opening in Queen Street this year, Gigabit Ultrafast fibre Broadband installed in the town centre and the £12million new Innovation Centre at Essex University, also opening this year.

The full report and how Colchester compared to other major towns and cities can be found at www.colchester.gov.uk/article/13972/Creative-Colchester.