Government money to spur £40m investment
PROJECTS TO CREATE JOBS AND IMPROVE TOWN
worth more than £40 million will aim to create jobs and improve the town centre in Loughborough.
Money will go towards the digital skills hub at Loughborough College, the John Taylor’s Bell Foundry and the Great Central Railway works and museum, among other initiatives such as flood prevention.
The projects have received the backing of Loughborough Town Deal, a group which works to secure government and other funding for schemes to improve the town centre and boost the area’s economy.
The deal board has been offered £16.9 million by the Government, which along with other funding brings the total investment to more than £40 million.
The board has also agreed to revise its Lanes and Links project, which focuses on making the town centre more accessible, to provide funding to install the Hope Bell in Queen’s Park.
The proposed bell, which would be cast at John Taylor’s Bell Foundry, would commemorate the impact Covid-19 has had on the borough.
Business cases for each project will now be drawn up and sent to the government, which will decide how the money is spent.
The Town Deal Board is cochaired by Councillor Jonathan Morgan, leader of Charnwood Borough Council, and Dr Nik Kotecha, chairman of Loughborough-based Morningside Pharmaceuticals.
The town deal represents a huge opportunity for Loughborough
Coun Morgan said: “The town deal represents a huge opportunity for Loughborough, its residents and businesses.
“I am pleased we will be able to support these projects and progress them to the next stage.
“The town deal will help improve skills for people which will be parPROJECTS ticularly important as we recover from the pandemic, but it will also tackle some issues that have held back our town for many years, such as the risk of flooding.
“It is a varied programme, and the board are working hard to ensure all the projects can be delivered with the partners involved.”
Coun Jonathan Morgan