Charnwood Borough Council has confirmed that millions of pounds worth of investment has been unlocked through the Loughborough Town Deal, with more developments still to come.
Seven projects have already been completed, delivering £14 million, with the deal further supporting another 11 projects. As the council looks forward to the investment that can be found in 2024, the government’s Town’s Fund has allocated the Loughborough Town Deal £16.9 million to support the further projects. These are worth, in total, £40 million worth of investment once delivered.
Completed projects include:
- A new Careers and Enterprise Hub in Loughborough Town Centre
- The regeneration of the Bedford Square area
- The development of a new sport park at Loughborough University
- Upgrading two kilometres of canal towpath within the town
Chair of the Loughborough Town Deal, Dr Nik Kotecha OBE DL – whose tenure has ended – said:
“I am delighted to see the progress that the Town Deal projects are making on the ground – projects which began as ideas for regeneration and improvements, over four years ago.
“The total investment now being made is simply huge for Loughborough, its residents, and visitors to the town. It will help support the people of Loughborough for many years to come with new facilities, skills, jobs, and an improved environment.”
Separately, free WiFi within the town centre has been expanded through the Living Loughborough project, alongside an augmented reality heritage trail and free business support for local businesses.
Dr Koetcha continued:
“We have faced and overcome a range of challenges, including right from the very beginning when we put together our investment plan with partners and local businesses – just as the pandemic hit.
“However, we went on to secure £16.9 million from the Government to back our 11 projects. Today, work is well advanced, collaborating with many tremendous partners who have co-invested and have led - or are leading - the delivery of these exciting projects. Without the commitment shown by our partners, the programme just wouldn’t have been possible.
“I am really pleased that some key projects have already been completed and will make a lasting difference for Loughborough.”
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