£22m to deliver business park and Flax Mill housing
A new science park is to be built in Newport and the Flaxmill project in Shrewsbury has been boosted as part of a £21.9 million funding deal from the Government.
It has been announced that the Marches Enterprise Partnership has been awarded the sum from the Growth Fund, which allocates money to support business growth schemes around the country.
The deal will see £1.9m go towards funding the ongoing redevelopment of the Flaxmill, in Shrewsbury. Two hectares of brownfield land around the historic mill complex will be transformed to allow the development 120 homes by private developers.
A new science park dedicated to innovation and enterprise opposite Audley Avenue on the A518 in Newport, which is expected to create 950 "high value" jobs, will receive at least £6.36m.
That will be topped up with another £3 million from Telford & Wrekin Council's land deal with the Homes and Communities Agency.
This investment will open up space for new companies to move in, including start-ups, small and larger businesses, and is focused on the growing agri-tech sector in which nearby Harper Adams is a leading authority.
“We now want to begin work on this new site in 2018/19 and bring employment land forward as quickly as possible," said Telford & Wrekin Council leader Shaun Davies.
“It’s another major economic boost for the borough, another signal how it is on the up and recognition by the Midlands Engine of the key role we have to play in driving growth.”
The Growth Deal will also see investment in training facilities and technical equipment for a number of local colleges, and a new university in Hereford specialising in technology and engineering.
It adds to £83 million of Growth Deal funding already awarded to The Marches LEP, which has been used for projects such as the overhaul of Telford's roads network and the new Marches Centre of Manufacturing & Technology (MCMT) in Telford.
Communities Secretary Sajid Javid said: “This new funding will help create jobs, boost skills and give businesses support.”
Graham Wynn OBE, chairman of the Marches Local Enterprise Partnership, added: “We want to create high quality jobs and the economic conditions for businesses to flourish – this funding will help us do exactly that."
