A new report published by Derby Museums has revealed the multi-million-pound contribution its Museum of Making makes to the city.
According to the Social Return on Investment (SROI) report, the museum, which opened to the public in 2021, contributes almost £4 million a year to the local economy.
The SROI report also highlights the significant social impact the museum has had on the city and the community. The report proposes that for every £1 invested in the operations of the museum, there is a social return of almost £6 lasting over the next five years.
Tony Butler, executive director of Derby Museums, said: “From the outset, Derby Museums was galvanised by the public interest in Derby Silk Mill, perhaps the most recognisable building in the city.
“This new report shows clear evidence of the significant impacts the Museum of Making project has had on Derby, its communities, visitors, participants, staff, volunteers, makers and artists, as well as Derby Museums itself, and the museum sector more widely.”
The Museum of Making at Derby Silk Mill was created thanks to more than £18 million of grant funding from the National Lottery Heritage Fund, Arts Council England and D2N2 Local Enterprise Partnership alongside support from Derby City Council, Rolls-Royce and a range of charitable trusts and foundations.
It was designed and created by the people of Derby to tell the city’s 300-year history of making and innovation.
According to the new report, the Museum of Making attracted more than 90,000 visitors in its first year of operation, and more than 122,000 during its last financial year.
To date, more than 1,500 people have been involved in the museum’s development, alongside community and business partners who, together, have gained new skills and contributed more than 40,000 volunteer hours to the project.
It also sustains a range of learning and community development programmes. And in terms of jobs, the museum has created the equivalent of more than 50 full-time jobs, as well as more than 150 jobs indirectly.
