The county's newest theatre - backed by the Governor of the Bank of England - is seeking business support to finish the project.

The new £25.6m Marlowe in Canterbury needs a further £1.75m and has unveiled a sponsorship scheme to appeal to small and medium enterprises willing to inject at least £5,000.

Organisers say that the 1,200-seat venue staging world-class productions - musicals, concerts, dance, drama and opera - will boost the economy so that all employers will benefit.

During a recent visit, Mervyn King, Governor of the Bank of England, declared it magnificent. "I hope the people of east Kent will enjoy the considerable cultural, creative and community benefits that projects such as this bring, particularly during this time of economic difficulty," he said.

Paul Barrett, managing director of Barretts of Canterbury and chairman of Canterbury 4 Business, said the Marlowe would benefit the whole county but would especially be at the heart of regeneration in Canterbury and East Kent. "When it's finished, it will probably be the best theatre in the south east outside London," he said.

"The aim is to increase audience figures to well in excess of 300,000 a year, compared with 270,000 in the old theatre, The estimate is that £22.6 million will be drawn into the local economy a year - an increase of £8.7 million compared with the old Marlowe.

"Thousands of additional visitors will come to the city and stay overnight or for the weekend, benefiting its restaurants, pubs, hotels and shops and creating or safeguarding hundreds of jobs."

Donors will become a Founding Corporate Partner and receive a range of benefits such as lifetime recognition in the foyer, booking privileges and staff discounts.

Mr Barrett added: "I believe local businesses should support local initiatives, which is why I am proud to endorse it. The campaign is striving to raise the final £1.75 million needed to complete the funding of the new Marlowe Theatre and I hope that local businesses will wholeheartedly offer their support."

• For more details, contact Jane Redman on 01227 456 578