Some £19.4 million has been secured to fund new high-tech start-up units and a satellite production line in Leicester.
The city council has won the money from the Government’s Levelling Up Fund for projects in and around Pioneer Park and Exploration Drive, off the city’s Abbey Lane.
Exploration Drive is home to the National Space Centre while the University of Leicester recently opened its £100 million Space Park Leicester around the back of it, providing office and workspaces for companies and academics involved in the sector.
Meanwhile, Pioneer Park already has two council-run workspaces for high-tech SMEs – aimed at start-ups and providing follow-up space as they grow.
The city council said part of the funding would be used to develop an area of land at Pioneer Park to complement the science park, providing high-quality production facilities linked to space and satellite technologies.
Prior to that it said two more Dock-style buildings as well as nine high-quality manufacturing spaces totalling 43,000 sq ft would be built.
The council is also working on a third element of its plans, to transform the vacant Ian Marlow Centre council depot site in nearby Blackbird Road into around 32,000 sq ft of light industrial spaces.
Leicester City Mayor Peter Soulsby said: “I’m delighted that the city’s bid for funding for the Pioneer Park scheme has been successful.
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“The area is also home to some very forward-thinking, high-end technology and space science businesses, so being able to retain and develop that sector is a key part of the city’s post-Covid economic recovery.
“Scheme such as this will help ensure that there are opportunities for skilled employment, meaning we retain skilled workers, develop high-manufacturing facilities and build on our reputation as a place which has much to offer businesses, and with good transport links to the rest of the region.”
All the projects are expected to be completed by spring 2024.
In total, the city received £45.5 million from the Levelling Up Fund – £8.5 million of which will be used to finance a scheme to redevelop the former city council premises at Pilot House, in King Street, into a home for start-up and growing creative businesses, bringing the cluster of heritage buildings back into use as part of the wider regeneration of the Belvoir Street, Market Street and New walk areas.
A further £17.6 million was awarded towards the first phase of regenerating Leicester’s railway station, involving remodelling the entrance, creating a taxi rank on Station Street, restoring the booking hall to its original size, and converting the covered entrance hall areas into space for hospitality and retail.
In total the three schemes are expected to cost about £54 million, with the remaining balance made up from existing match funding and council contributions.
Leicester University President and Vice-Chancellor, Professor Nishan Canagarajah, welcomed the success of the bids for funding, which he said would be transformative for the city and support its future growth and prosperity.
He said: “Naturally, we are particularly pleased that Pioneer Park has received a significant proportion of the funding. This will be a game-changer for ensuring that we are able to bring the benefits of the space sector to the city.”