Croydon has been named among the capital’s first Creative Enterprise Zones (CEZ) announced by the Mayor of London last week.

The borough is one of six from across the capital who have successfully bid for funding from the Mayor to develop as a CEZ – a place where creative industries flourish and grow.

Croydon has been awarded a grant of £500,000 to enable the growth of arts through provision of space, skills and support, policy and community. In addition the borough will benefit from training and development for new creative businesses, bringing the total investment to over £1m.

Peter Flack, CEO of Artists Studio Company, which was part of the bid, said: "Artists Studio Company are delighted to be part of the successful Croydon creative's CEZ bid.

"It is vital to maintain affordable studio space and encourage creative industries at a time when artists are being pushed out of London with ever-increasing rents.

"We are particularly delighted to be part of the Croydon scheme that will offer young and emerging creatives subsidised space.

"The local stakeholders who make up the CEZ consortium have worked closely together to devise models of support which we believe will help a wide section of local people."

Croydon was among 11 boroughs who were shortlisted out of 25 applicants for CEZ status, six of which were named as CEZs.