Creative businesses and projects across the U.K. are set to receive government funding thanks to a £60 million ($73 million) investment package unveiled on Friday as the Labour Party administration pushes for growth in the sector as part of its bid to provide a boost to the broader economy.

The team of Prime Minister Keir Starmer said on Friday that the investment package would benefit “hundreds” of companies, “marking the first step of the government’s sector plan for the creative industries.” The initiative will include £40 million ($49 million) in investments for “start-up video game studios, British music and film exports, and creative businesses outside of London,” as well as grassroots music venues.

British media and entertainment companies have in recent years been looking to move beyond their traditional London-centric way of doing business amid calls to produce more content outside of London and feature more stories set in places other than the capital. 

Culture Secretary Lisa Nandy is bringing together more than 250 creative businesses and cultural leaders at The Glasshouse International Centre for Music in Gateshead, England, which is part of the bigger Newcastle area, on Friday to set out how the government will work with the sector to “increase growth and investment,” according to a statement.

At the summit, Nandy will also formally unveil that the government’s priority regions for the creative industries are the North East, Greater Manchester, the Liverpool City Region, West Yorkshire, the West Midlands, Greater London, the West of England, South Wales, Glasgow, the Edinburgh-Dundee corridor, and Belfast in Northern Ireland.

“From film and fashion to music and advertising, our creative industries are truly world-class and play a critical role in helping us deliver on this government’s mission to drive economic growth in all parts of the U.K.,” said Nandy. “Our £60 million funding boost will support creative and cultural organizations across the U.K. to turbocharge growth by transforming local venues, creating jobs, supporting businesses, and spreading opportunity across the country. But this is by no means the limit of our ambitions, which is why the creative industries are at the heart of the forthcoming Industrial Strategy and will continue to play a key part in this government’s Plan for Change.”

Added U.K. Chancellor of the Exchequer, or finance minister, Rachel Reeves: “Our number one mission is to grow the economy, and our creative industries are a British success story with a big part to play. Building on our plans to boost our AI sector, this is another step as we go further and faster to deliver growth so we can put more money in people’s pockets.”

Foreign Secretary David Lammy recently unveiled a new Soft Power Council, which will act as an advisory board to the government, “to champion the U.K. abroad and drive investment and growth at home,” signaling the importance that Starmer’s team puts on the creative and cultural sector.

“Soft power is fundamental to the U.K.’s impact and reputation around the world,” Lammy said on Fridat. “I am often struck by the enormous love and respect which our music, sport and educational institutions generate on every continent. But we have not taken a sufficiently strategic approach to these huge assets as a country. Harnessing soft power effectively can help to build relationships, deepen trust, enhance our security, and drive economic growth. That is why I have created the Soft Power Council to channel British expertise as we look to re-imagine Britain’s role on the world stage, reinvigorate alliances, and forge new partnerships.”