£12m TO HELP TO CREATE JOBS & BOOST CITY
COVENTRY is to be given a £12m cash injection from the Government to help kickstart the city’s economic recovery postlockdown.
The funding is being provided to Coventry City Council by the Government’s Get Building Fund (GBF) to encourage investment and create jobs following the economic impact of Covid19.
It will go towards a dozen projects in the city and link to both Coventry being UK City of Culture in 2021 and the city’s role in the Commonwealth Games taking place in Birmingham in 2022.
Half of the money, which is part of a wider £66m West Midlands funding package, will go to support Coventry’s year as UK City of Culture - to help make the most of the opportunities the city’s year in the cultural spotlight will present.
It includes additional funding for the Charterhouse project.
The site of an old Carthusian monastery off London Road is the location for a 70-acre heritage park.
The Charterhouse building is also being restored to create a tourist attraction.
The project will also create what could ultimately be Coventry’s first Michelin-starred restaurant when TV chef Glynn Purnell sets up a new restaurant there.
A small conference venue is also planned on the site.
Almost a third of the money (£3.8m) is being earmarked to help ensure a legacy from the Commonwealth Games, which will see events held at the Ricoh Arena.
That money will go towards refurbishing the Ericsson Hall, which will be the home for judo and wrestling events at the Commonwealth Games.
The project will also establish a Commonwealth Convention Centre and create a new food and drinks outlet.
Another large slice of the Government funding (£1.8m) will go towards plans for a Very Light Rail network.
The grant will fund areas such as the creation of a workshop, the purchase of machinery, and research and design for the system.
A number of other schemes will also benefit from the Government funding - including the city’s medieval gates, St Mary’s Guildhall, the Belgrade Theatre, Drapers’ Hall and Fargo Village.
Welcoming the news Cllr Jim O’boyle, Coventry City Council’s cabinet member for jobs and regeneration, said: “This funding is a show of faith in our city’s future and will help to make a massive difference to those who live and work here.
“The projects are all ready to start quickly and they will create jobs in vital sectors such as tourism and industry, helping Coventry to not just emerge from the effects
of the Covid-19 lockdown, but to build on the great work already started and create something very special for the years ahead.
“The projects will help us take advantage of the fantastic opportunities presented by our year as UK City of Culture and as a host city for the Commonwealth Games.”
Cllr O’boyle added: “We have a wonderful city and we want to ensure we are ready to welcome visitors and give them the best experience possible as they learn about our culture and heritage.
“With money to support improvements to the Ricoh Arena, and to further our innovative work in Very Light Rail, helping to cut air pollution and congestion, this is a very exciting package of investment indeed.
“The next few months are going to be very exciting as we begin to see it all come together.”
All the projects that will receive government funding can be started within 18 months.
Other projects which will benefit from the Government funding pot are as follows:
The refurbishment of areas in Fargo Village, allowing new businesses to start up and existing ones to grow
Additional investment to improve the visitor offer at St Mary’s Guildhall
The restoration of the city’s two remaining medieval city gates and the timber-framed cottages at Priory Row, to convert them to provide visitor accommodation
Further funding to help key cultural venues such as the Belgrade Theatre and Drapers’ Hall be ready to welcome visitors during the City of Culture year starting in May 2021. Investment for a permanent, accessible, innovative, large-scale digital immersive gallery and visitor experience that will showcase the city’s strengths in 5G and creative technology
The creation of two visitor information points at Coventry railway station and Pool Meadow bus station to welcome the 2.5m visitors expected during City of Culture year, as well as Commonwealth Games visitors in 2022