Where the money will be spent

Below is more information about the projects, which are based on seven themes:

TRANSPORT AND DIGITAL INFRASTRUCTURE – £3.6 MILLION

Connected Loughborough:

The town deal proposes to make it easier and more enjoyable to move from the east side of town where the railway station is through town, on to Loughborough University and Loughborough College and then out to the Loughborough University Science and Enterprise Park in the west.

The public realm would be improved and made more attractive and walking and cycling would be made more of a priority.

The power of digital technology will be harnessed to communicate with people in those areas.

Electric vehicles and charging points will contribute towards the town’s drive to be cleaner and greener with net-zero carbon footprint.

URBAN REGENERATION, PLANNING AND LAND USE – £14.6 MILLION

Development accelerator - £8.2 million:

A fund will be created to unlock the potential of at least four sites in town which can be developed for housing, commercial and leisure uses and help drive the recovery of Loughborough in a post-pandemic world, creating jobs and opportunities.

Living Loughborough - £4.3 million:

Led by Love Loughborough, this project looks to invest in creating a rejuvenated town centre with more people living there as well as shopping and spending their leisure time.

This will include the implementation of automated transport systems such as driverless vehicles.

Investment will be made in infrastructure which facilitates more and better-quality events as the town moves away from the pandemic and comes together again as a community.

Gateways to the town centre – £2.1 million:

It is imperative the town centre is a welcoming and inviting place for people to live, work and visit. The town will invest in making sure the gateways into the centre are attractive, accessible and link the urban with open spaces such as the award-winning Queen’s Park.

ARTS, CULTURE AND HERITAGE - £3.6 MILLION

Taylor’s Bell Foundry and Great Central Railway:

Loughborough is proudly home to two unique places – Taylor’s Bell Foundry, the UK’s last remaining bell foundry, and Great Central Railway, the UK’s only double track, main line heritage railway.

By supporting these visitor attractions in their growth, the town can attract more visitors, which has beneficial impacts for all businesses in the leisure and hospitality sectors.

The Loughborough Generator:

This project is about creating a vibrant inclusive centre for creative enterprise in Loughborough town centre utilising a historic building in Frederick Street.

Riverside Regeneration:

The Grand Union Canal flows through the heart of Loughborough and the town deal proposes to invest in upgrading this historic national corridor which links the town centre and railway station, and to make it a more attractive place to visit.

SKILLS AND EMPLOYABILITY – £3.8 MILLION

Careers and Enterprise Hub:

Loughborough College will operate the hub in a town centre location, already funded by £750,000 of towns fund support. The hub will offer guidance and support to people who want to boost their careers or get into work.

Loughborough University will also be involved by providing advice and mentoring to people wanting to start up their own business.

Loughborough College Digital Skills Hub:

The Digital Skills Hub will offer T-Levels, apprenticeships and Kickstart job placements to skill-up local people as Loughborough moves into a more digitally focussed future.

Generation Loughborough:

This project will seek to improve job and life skills for 5,000 young people with a focus on supporting people from disadvantaged backgrounds and communities. The scheme will promote learning and a healthier, more active lifestyle.

ENTERPRISE – £1.8 MILLION

Sportpark Expansion and Wayfinder Scheme:

Sportpark on the Loughborough University Science and Enterprise Park houses the UK’s highest concentration of sports governing bodies and national sports organisations.

The town deal is proposing to jointly fund an expansion to Sportpark and bring further sports-related businesses to the region.

Investment is also sought to support a business accelerator scheme to help local companies link in with the university’s incubation and innovation services to help them adapt for a post- Covid world and move more into the knowledge-based sector.

MICROPROJECTS – £1.1 MILLION

Community and Business Capital Grants Scheme:

These grants would help businesses and community groups to access capital funding for micro or small projects which add value to the community or local economy.

FOUNDATION AND CROSS-CUTTING INTERVENTIONS – £3.2 MILLION

Loughborough University as an Anchor Institution

The TIP identifies Loughborough University as an Anchor Institution for the area and its knowledge, skills and capabilities should be harnessed to bring about social, economic and environmental improvements to the town.

The university will play an integral role in the creation of a Loughborough Observatory, which will gather data and evidence to further develop the town deal proposals and to ensure they are evidence-led and comprehensively evaluated. This has the potential to benefit other towns fund locations.

Flood defence scheme:

Money would go towards co-funding a necessary Environment Agency programme to reduce the risk of flooding in the town.

Capacity funding:

Part of the bid will also seek capacity funding to deliver the projects.