Part of the East Midlands is set to get £62.6 million under the Government’s Towns Fund initiative.
The huge investment will be spread across Sutton and Kirkby, in Notts, with much of it supporting businesses struggling to cope with the consequences of the pandemic.
It is the highest amount of money for any area in the country under the Government support scheme.
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The investment focuses on four areas – business and education; health and wellbeing; boosting the visitor economy; and making Ashfield greener.
Business and education plans include an automated distribution and manufacturing centre, aimed at creating a “national centre of excellence” in the district.
There are also plans for two new education centres for construction and civil engineering, as well as innovation centres at both Kirkby and Sutton libraries.
A new Kirkby health hub and sports hubs at Kingsway Park and Sutton Lawn will also give residents access to healthier lifestyles.
Plans are also in place for a planetarium and science centre at the Sherwood Observatory, off Coxmoor Road, as well as the new sports and leisure facility at King’s Mill Reservoir.
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In all 26 English towns have received a slice of £610 million in Government funding to help them rebuild their economies in the wake of the pandemic.
The money, which comes from the £3.6 billion Towns Fund unveiled in July 2019, is intended to kickstart urban regeneration and boost green transport infrastructure, tourism and jobs.
Other areas across Nottinghamshire and the wider area are also set to receive millions of pounds as part of the funding.
Stapleford has been confirmed as receiving £21.1 million in the Towns Fund, while Long Eaton in Derbyshire will be receiving a further £24.8 million.
Corby in Northamptonshire will receive £19.9 million, while Loughborough in Leicestershire will get £16.9 million.
It follows an announcement earlier this year that Mansfield is set to receive £12.3 million in the same funding scheme, and a separate announcement at the end of last year which confirmed Sutton will be receiving a further £6.27 million in Future High Streets Funding.
This, alongside £1.5 million in the accelerated Towns Fund pot, means Ashfield is set to receive more than £70 million in funds to ‘level up’ the district.
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Matthew Relf, Ashfield cabinet member for place, planning and regeneration, said: “This is fantastic news for Sutton, Kirkby, the whole of Ashfield and the wider region.
“I am very proud of the ambitious bid that we put together and this funding, together with the £6.27m secured from Future High Streets for Sutton town centre provides a once in a lifetime opportunity for us to make a real and long lasting change in the area.
“I would like to thank all our partners from the Discover Ashfield Board for their time and effort. I would like to thank Lee Anderson MP for supporting this bid in Parliament.
“I reserve special praise though for the officers of the council who have worked tirelessly on the bids and the brilliant residents of Ashfield who engaged with us in their hundreds to feedback to us on projects and to support the bid.”