£3m boost for business park

Edwin Booth, chairman of the Lancashire Enterprise Partnership.
Edwin Booth, chairman of the Lancashire Enterprise Partnership.
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A FYLDE coast business park looks set for a £3m boost.

The Lancashire Enterprise Partnership (LEP) has announced investment in economic development schemes which could deliver 3,000 new jobs as part of a £190m public/private investment package.

And Thornton’s Hillhouse Business Park has been earmarked for £3m of infrastructure improvements under the Growing Places Fund (GPF).

Edwin Booth, chairman of the Lancashire Enterprise Partnership, said: “We are one of the first LEPs in the country to agree a programme of such scale and impact, having moved very quickly to identify and approve the schemes which will benefit from the Growing Places Fund.

“This investment will make a real difference to people in Lancashire, creating tangible returns in the form of jobs, housing and economic growth.”

Mike Appleton, LEP champion for strategic developments and inward investment, added: “The most exciting thing about this fund is it is not just one-off funding. Instead all money repaid will go straight back into the fund to be invested in new projects which can deliver new jobs and private investment. This fund will continue to boost economic growth well into the future.”

The scheme has been identified as “priority three” which means approval is subject to negotiating final terms.

The GPF is a £500m capital fund aimed at generating economic activity in the short term by addressing immediate infrastructure and site constraints, unlocking development and enabling the delivery of new jobs and housing.

The investment gives Local Enterprise Partnerships across the country the ability to manage the funding of infrastructure projects, including the flexibility to recycle funding for new projects as developments are completed.

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