Hamburg tops up "Relaunch Fund" to boost retail
The senate agreed Friday (June 10, 2022) to put another EUR 500,000 towards the "Relaunch Fund City & Centres," which has so far been endowed with EUR 1.6 million. The increase should help stabilise the economic recovery of downtown Hamburg and its suburbs from the pandemic and not endanger the recent positive development.
Reviving city centre and suburbs
The Relaunch Fund has proven effective at reviving the city centre and suburbs, according to Michael Westhagemann, Senator for Economics. Vibrant and attractive city centres are needed to encourage people to browse around and shop. "We need attractive centres with interesting events and occasions for retail to maintain economic strength."
The Relaunch Fund promotes sales events and other activities by interest groups and retail associations in the suburbs. The events include, e.g., special seasonal campaigns, pop-up events, planting campaigns, flea markets, city marketing, suburb management, Christmas lighting and professional websites. A total of 87 applications have been approved since the Relaunch Fund was introduced in June 2021 .