09 Feb £66m boost to local economy
Major regeneration and infrastructure projects to create jobs, homes and business space across the Coast to Capital LEP are set to benefit from an additional £60m of government funding from its Growth Deal.
This is in addition to the £240m of funding previously committed by the Government. Over the lifetime of the Deal (up until 2021) Coast to Capital estimates that up to 40,000 new jobs could be created, 13,000 new homes built, and that this investment has the potential to generate a further £600,000,000 in public and private investment. It is currently funding over 50 projects in the area.
The £66m of additional projects to be funded under Growth Deal 3 are:
* Croydon Fairfield Halls & College Green regeneration – a mixed-use scheme that will transform the central site into an inspiring mixed-use and modernised vibrant cultural, creative and educational quarter.
* Horley Business Park Access Road – improving access to a new strategic employment site north of Gatwick along the M23.
* Burgess Hill – a package of infrastructure works and sustainable transport schemes.
* Sussex Bio-Innovation Centre, Brighton & Hove – a new facility at the planned Life Sciences building at the University of Sussex.
* Black Rock Site Redevelopment, Brighton & Hove – will create a new world-class conference centre.
* Worthing Central (Phase 1) – will see a comprehensive transformation in the town centre, specifically focusing on Teville Gate and Union Place.
* Decoy Farm, Worthing – will unlock a former landfill site near East Worthing Station to become commercial business space.
* New Monks Farm, Shoreham– improving the road network to unlock major development for the town.
Tim Wates, Chair of Coast to Capital LEP, commented: “This is extremely good news for the Coast to Capital area. The investment is a clear indication from Government that it recognises the need to continue to invest in the regeneration and infrastructure of the region to enable it to continue to prosper and remain a major contributor to the UK economy (£48.6bn GVA). With this substantial backing we are now able to focus on supporting projects within our key strategic priorities of housing, infrastructure and skills.”
Jonathan Sharrock, Chief Executive of Coast to Capital LEP, added: “The new projects to be funded will help to improve the daily lives and prospects of local people and, working closely with partners, we will be able to unlock the region’s potential for long-term growth by kick starting schemes which will provide the stimulus to bring forward more homes and jobs.”