In a key announcement today Government has provided a massive boost to Wellingborough’s growth plans by approving funding for several key projects.
The Government’s Growth Deal for Northamptonshire, part of a nationwide decentralisation of funding, confirmed £67.3m to be allocated to Northamptonshire Enterprise Partnership (NEP). In the first year 2015/16 £9.1m of new funding is available and £11.5m the following year. The main headlines for Wellingborough includes committed funding for Stanton Cross to provide for the bridge link infrastructure from Midland Road to the development. Provisional funding allocation has also been given to the A509 Wellingborough Development Link and for the delivery of the new Tresham College campus on Church Street.
These allocations together with the committed funds for Stanton Cross will enable the kick start of the Borough’s urban extensions which have had planning consent for some time but have been stalled due to viability issues. This is a massive vote of confidence in the proposals for the town which have been on the verge of delivery since the financial crash in 2008. This infrastructure investment in roads and the redevelopment of the college will bring further jobs and wealth to the Borough.
Close partnership working between the Borough Council, County Council and NEP has made the delivery and prioritisation of funding for these projects possible.
As part of the announcement Secretary of State for Communities and Local Government visited Wellingborough and looked across at the site for Stanton Cross. He also visited Scott Bader in Wollaston where he learnt more about how the company was been helped to grow by the investment of Regional Growth Fund money which the company secured. Two grants have been won recently which have helped the company develop new adhesives and carbon fibre composites and improve exporting the products abroad.
For more information on the Growth Deal for Northamptonshire click here
Northamptonshire Enterprise Partnership Website link