KEA study shows that 1 Euro public investment for Mons 2015 European Capital of Culture leveraged 5.5 Euro in additional spending. Economic and social impacts of the cultural investment are remarkable for a European city with less than 100 000 inhabitants at a time of great economic and social insecurity in a region long confronted with industrial decline. The study shows the contribution of the cultural investment in the establishment of a creative ecosystem conducive to innovation. Final evaluation report will be made available in the course of July 2016.