It is understood the council has approved a capital funding package – totalling £1.2m – for the arts centre, while the Scottish Government will provide £600,000.
The funding will allow the Greenock Arts Guild to not only secure the long-term future of the building, which opened its doors in January 2013, but also includes the final settlement sum for construction of project.
Councillor Stephen McCabe, Leader of Inverclyde Council, explained: "The Beacon is Inverclyde's newest visitor attraction and in its first year of operation has proved to be its most popular.
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"This and the 60 jobs are part of the reason that it is important that this facility is saved from going into administration. The long term viability of the Beacon Arts Centre is good for Greenock, good for Inverclyde and good for the wider arts and cultural offering in Scotland.
"I am delighted that my fellow councillors have supported this funding package and that the Scottish Government are standing beside us in continuing to support and delivering the long term viability of the Beacon Arts Centre.
"These are difficult times for all public services and difficult decisions are facing the council. The Beacon Arts Centre must now deliver on their business plan and ensure that the support from the council and Government is public money well spent."
Scottish Government Cabinet Secretary for Culture, Europe and External Affairs, Fiona Hyslop MSP, added: "The Scottish Government is committed to ensuring everyone in Scotland has an opportunity to access, enjoy and participate in cultural activity, and the Beacon Theatre is doing much to increase access to culture and the arts. We want to see regeneration and jobs created in Inverclyde and Scottish Government investment in Greenock is supporting this.
"I am delighted to announce that, exceptionally, the Scottish Government will support the Beacon to help to secure its future, giving support of £100,000 this financial year, followed by £500,000 before 31 March 2017. This is in addition to the Regular Funding revenue support the theatre already receives from Creative Scotland."
(JP/MH)
