Four city and county schemes – including a new city centre bus station – are to get £20 million from the Government’s Getting Building Fund to boost the beleaguered 海角视频 economy and hopefully bring more than 1,000 jobs to the region.
The Government said it is backing plans to revamp Leicester’s St Margaret’s Bus Station and create a new hub for sports businesses in Loughborough as part of its £900 million investment to build Britain out of lockdown.
Back in June Boris Johnson said he was launching a “new deal” for the 海角视频 economy to contribute to the post-Covid recovery – with big state building projects at its core.
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The Leicester and Leicestershire Enterprise Partnership (LLEP) said it put forward four schemes which have now received £20 million backing.
They are among 14 projects across Derbyshire, Nottinghamshire and Leicestershire which have been granted public funding totalling £64.4 million.
They were chosen because of their impact on the region’s short and long-term economic growth.
The Leicester and Leicestershire schemes are:
St Margaret’s Regeneration Gateway:
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The scheme has received £10.5 million to improve this part of the city as it goes through a major regeneration with new hotels and flats either up, being built or planned. The scheme includes a new bus station and better roads and paths between the area and city centre. It is hoped the changes will accelerate development in the area that might otherwise stay on hold.
Charles Street Transport Hub, Leicester:
This scheme has been given £1.7 million to create stronger links between the city railway station and Leicester’s two bus stations. As well as improving public transport it will create a gateway to the city centre and the Cultural Quarter regeneration area, as well as improve access to work, leisure and tourist destinations across the city centre. It will also help improve the look of public areas around there.
SportPark Pavilion 4 at Loughborough University Science and Enterprise Park (LUSEP):
Loughborough has established its position as a world leader for businesses working in new technology and sports science. The 21,000 sq ft SportPark Pavilion 4 scheme is getting £6 million to encourage more sports businesses to move to or set up in the town. It is hoped it will support 165 jobs on site and a further 157 off-site – and play a part in making Loughborough and its university business park a global sports hub.
Access improvements at J23 of the M1 between Loughborough and Shepshed:
Work is already underway upgrading the single carriage along the A512 leading up to the M1. The improvements are needed to provide better access for significant new housing and business developments going up in the area – including the Loughborough University Science and Enterprise Park and a second high-tech industrial park next to it which could lead to 4,000 jobs. The Government is putting an extra £1.8 million into the pot to improve five junctions on the A512 and improve junction 23 of the motorway.
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The Government says the four schemes will create 1,060 jobs when finished as well as 140 jobs during construction, and 11 new apprenticeships.
They will also help unlock 2,600 new homes, provide space for 10 businesses and create almost 2 miles or new or improved cycle and footpaths. On top of that they will enhance almost 30,000 sq ft of parks and public spaces.
Kevin Harris, chairman of the LLEP board of directors, said they were delighted to have been given the extra cash.
He said: “These projects will start to transform the future infrastructure of our city and county very quickly.
“Our over-arching aims will be to help get business moving again, to kick start our economy and to increase prosperity for all who live and work in Leicester and Leicestershire.”
Professor Tracy Bhamra, Loughborough University Pro-Vice Chancellor for Enterprise said: “SportPark already has the highest concentration of the sports sector’s governing bodies and national organisations so its expansion is a natural step to create a vibrant focal point for the global sports hub.
“A growing number of sports innovation businesses have launched at or relocated to LUSEP, attracted to the collaborative environment and access the university’s world-leading expertise in sports science, engineering, health and well-being and high performance athlete base.
“LUSEP is already one of the most accessible science parks in the 海角视频, located one mile from Junction 23 of the M1.
“The road improvements will create a further access point, even closer to M1.
“This is particularly welcome news as LUSEP’s expansion continues, as part of the Loughborough and Leicester Science and Innovation Enterprise Zone.”
Deputy Leicester mayor for environment and transportation Coun Adam Clarke said it was “very good news” for the city.
He said: “The St Margaret’s area of the city has great potential for large-scale regeneration, with the opportunity to attract further private investment and create a high-quality public realm to connect with the city centre.
“This investment will also give us the chance to replace a worn-out bus station with a new, modern and efficient building that will signal the beginning of the revival of this part of our city.
“The Charles Street transport hub will allow us to continue our work providing high-quality cycling and pedestrian routes that link the railway station to the city centre.
“As part of an integrated package of works over the next few years it will help to transform the station as a gateway to our city.”
Leicestershire County Council leader Coun Nick Rushton said it was another important milestone in plans to drive growth across Leicestershire.
He said: “It’s encouraging news during what has been a very difficult time for the area due to the coronavirus pandemic.
“This Government funding towards the scheme recognises the work we are doing across the authority to improve and construct new roads before housing is built, which alleviates congestion by creating extra capacity on the network.
“This scheme is also key to support jobs with commercial developments also planned.”
In its funding round-up the Government said: “In Leicester and Leicestershire, the funded projects are expected to deliver support for the local economy focused on transport, housing and employment.
“In Leicester city centre funding will enhance public realm, improve pedestrian and cycle connectivity, and can accelerate the delivery of new homes and commercial space.
“In Loughborough, additional employment space will extend the Sport Park cluster at Loughborough University to increase jobs.
“Road improvements will also unlock and accelerate strategic housing and employment growth and provide greater access to the Loughborough University Science and Enterprise Park.”
Chris Hobson, director of policy and external affairs at East Midlands Chamber said: “Having almost £65 million of public investment in the East Midlands across 14 projects is great news for the region.
“These are all vital infrastructure schemes that will help unlock growth and support the region’s economic recovery from Covid-19 by tapping into our proven industrial strengths in sectors such as advanced manufacturing, food manufacturing, transport and logistics.
“These are shovel-ready schemes and it’s now important that we get development underway without any delay, so we can realise the benefits as soon as possible and begin to think about an exciting future for the East Midlands involving the creation of highly-skilled jobs.
“The way these projects have been put forward and selected so soon after the Government’s announcement of a ‘New Deal’ infrastructure strategy demonstrates that the region is able to move quickly in responding to opportunities.
"This ability to be responsive will be crucial coming out of the crisis.”