A £24 million pot of funding has been released to help products across Leicester and Leicestershire drive productivity and growth during the economic crisis.
Business in the city and parts of the county have suffered a second blow in recent weeks after a regional lockdown was imposed following a local spike in Covid-19 cases.
It means all non-essential shops were forced to close and shops, bars, cinemas and hairdressers were forced to stay shut.
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To help, the Leicester and Leicestershire Enterprise Partnership (LLEP) is providing £24.43 million of support from the local business rates pool fund.
Then money will go to small and large capital projects including town centre improvements, cycleways and footpaths, upgrades to public wi-fi, targeted job creation initiatives as well as arts, cultural and leisure facilities.
It will be split in three ways:
- Leicester City Council - £8.2 million
- Leicestershire County Council - £8.7 million
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- Leicestershire District Councils - £7.53 million
Projects being supported include:
- £750k to provide grants up to £10k to businesses in the county to assist their recovery from Covid-19
- £3.75 million for Desford Crossroads – plans include building a roundabout to reduce congestion and improve journey times on the A47 and B582
- £100,000 to support the Superfast Leicestershire broadband project
- £4 million for the Transforming Cities Green Growth Corridors, backing sustainable transport schemes
- £2.5 million to expand and refurbish the Jewry Wall to create a national Roman Leicester museum and two new galleries at New Walk museum.
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- £400,000 for the Phoenix 2020 project that will see an extension to the city’s film and digital arts centre, doubling its economic and cultural contribution to the city.
City Mayor Peter Soulsby said: “Investment in new infrastructure to support business in the city is greatly welcomed.
“The funding will support sustainable transport schemes for public transport, walking and cycling on key routes into the city and will contribute to our £80 million Transforming Cities programme.
“Support for the expansion of Phoenix Cinema and refurbishment and expansion of Jewry Wall Roman Museum will provide a boost for the city’s cultural facilities during the recovery from Covid-19.“
Coun Nick Rushton, Leader of Leicestershire County Council, said: “It’s been an extremely tough time for businesses, and I’m delighted to have secured this funding. Boosting the local economy is our priority and it will provide much-needed cash to help companies get back on their feet.
“Driving growth is also at the heart of plans to help Leicestershire recover from the coronavirus pandemic. And this money enables us to press on with key plans to cut congestion and improve journey times.“
Coun Jonathan Morgan, the leader of Charnwood Borough Council, said: “District and Borough Councils have a lead role in driving growth across the county and now, more than ever, we need to support our local communities and businesses.
“This funding will provide a very welcome injection towards our local recovery and builds upon the nearly £120 million Leicestershire’s district councils have paid in business grants over the last three months; demonstrating our ongoing commitment to our towns and villages.“