Business and community leaders have come
together to kickstart a project to secure up to £25 million of government
funding to transform in Loughborough’s economic growth

Charnwood Borough Council hosted the first
meeting of the Loughborough Town Deal Board which will manage the development
of a town investment plan and submission of bids to the Government’s Town Deal
initiative.

Director Andy Reed is on the Board through his voluntary role at the LLEP

The deals aim to regenerate town centres, boost
businesses and improve infrastructure and connectivity.

The Loughborough Town Deal Board is being
co-chaired by Dr Nik Kotecha OBE, chief executive of Morningside
Pharmaceuticals in Loughborough, and Cllr Jonathan Morgan, leader of Charnwood
Borough Council.

Cllr Morgan said: “The Town Deal is a huge
opportunity to bring a significant amount of investment to Loughborough and I
am delighted the board has met for the first time.

“There is a tremendous amount of positivity and
enthusiasm about the potential of the Town Deal fund and I look forward to
seeing ideas develop.

“The board members all agreed that
collaboration and involving all sectors of the community will be a critical
component of success.

“The first meeting was very much about making
sure we have the right structures in place so we can move forward at pace and
secure the best Town Deal for Loughborough.”

Dr Kotecha said: “The funding from the
government’s Town Deal Fund and the overall Loughborough Town Centre Masterplan
will create jobs, increase productivity and boost skills throughout the
borough. The meeting of the Town Deal board is a crucial first step towards
ensuring that Loughborough continues to be a thriving market town and major hub
for the Charnwood community.” 

The Loughborough Town Deal Board will now
co-ordinate the development of a Town Investment Plan which will provide a
vision for building on the town’s unique strengths to transform its economic
growth prospects.

At its first meeting the board agreed a
governance structure including the creation of a sub-group to oversee community
engagement and consultation. It also agreed to use government funding already
awarded to the Council to commission external support to help with the bid and
community engagement.

Town Deals can be used to redevelop vacant
buildings and land, drive private sector investment by supporting small
businesses and ensure young people have the skills they need to get good jobs.
Communities will also be able to consider how they can boost their transport
links and increase access to high-speed broadband.

To keep up to date with the latest Loughborough
Town Deal news, please follow @charnwoodbc on Twitter.

ENDS