Islington Mill has been awarded £746,000 by The National Lottery Heritage Fund for urgent repairs to the fabric of the building.
The funding will prevent further deterioration and safeguard its future in time for its 200th anniversary in 2023.
The independent arts centre founded by designer Bill Campbell in 2000 hosts public arts programmes, residencies, galleries, rehearsal space, events and exhibitions and is home to more than 50 businesses and 100 artists, musicians and small businesses, including a B&B.
The capital works will ensure that derelict areas will be rejuvenated to make even more space available for artists and businesses.
“Across the UK there is an abundance of mills, and our funding is incredibly important for those that hold significant heritage for the nation and stories about people and communities that continue to inspire us all today,” said National Lottery Heritage director David Renwick.
“We’re delighted to have awarded funding to safeguard the future of Islington Mill and ensure that this example of one of our industrial relics – just some of the remnants of the giant industrial complex that once covered the north of England – can continue to thrive as a sustainable business and community hub.”
As well as the grant from The National Lottery Heritage Fund, Islington Mill has received funds from Arts Council England, Salford City Council and has raised £500,000 itself through friends and supporters in an artist-led fundraising campaign.
Director and founder Bill Campbell said: “Islington Mill has been a home for creative entrepreneurs for 200 years. This award signals our collective intent that the building, and its surrounds, will continue to host creativity for the next 200 years.
“2020 is the year we begin to deliver our collective legacy by establishing Salford as a destination for creative practitioners and thinkers.”