£32m bid to transform Loughborough put forward

A £32m bid to transform Loughborough has been submitted to Government.

Under the Loughborough Town Deal, an investment plan outlining a range of projects has been drawn up that will seek to improve skills and boost job prospects, redefine the town centre to ensure it remains well-used, improve the local environment and showcase the town’s heritage.

The government invited Loughborough to submit a bid under the Town Deal scheme and a board was formed to lead the project.

The board involves a range of organisations, including Charnwood Borough Council, Loughborough University, Loughborough College, Love Loughborough, Leicestershire County Council, the Leicester and Leicestershire Enterprise Partnership, Charnwood Together Economy and Skills Group, local businesses and Loughborough MP Jane Hunt.

Cllr Jonathan Morgan, board co-chair, said: “We are incredibly excited to launch the Loughborough Town Deal bid and it could not have come at a better time as we face significant challenges due to the pandemic.

“We need to make sure we build back better and create opportunities for young people and businesses and build on the wonderful assets we already have like the university and college, the town’s heritage and Loughborough’s ideal central location.

“I would like to thank everyone who has been involved in bringing the bid together and I would urge people to support it.

“This will not only bring short term improvements but also lay the foundations to make Loughborough an outstanding place to live, work and visit for many years to come.”

The Loughborough Town Deal investment plan proposes a range of projects which will:
improve skills levels to boost job prospects
redefine the town centre to ensure it  is well-used and vibrant for the future
improve links between the east and west sides of town, from the railway station through to the town centre through to the university and science and enterprise park
improve flood defences for the town
reduce carbon emissions by encouraging use of electric vehicles
unlock areas prime for development for housing, leisure and commercial use
build on Loughborough University’s reputation as a centre for innovation, research and sport
showcase the town’s unique heritage to attract more visitors to the area by supporting Taylor’s Bell Foundry, Grand Central Railway and improving the canal environment
improve job and life skills for 5,000 young people from disadvantaged backgrounds

The investment plan seeks to capitalise on Loughborough University’s global reputation for sport and innovation, and the high-performing Loughborough College, and weave these centres of learning more closely into the town.

The Loughborough College Skills and Enterprise Hub in the town centre will be the first step in that direction and already the Towns Fund has awarded Loughborough Town Deal £750,000 to kickstart the joint-project with Charnwood Borough Council.

The Council has purchased the former Crawshaws Butchers building in Market Place where the hub will be located. The hub will offer guidance and support to people who want to boost their careers or get in to work. Loughborough University will also be involved by providing advice and mentoring to people wanting to start up their own businesses.

Investment is also being sought for Taylor’s Bell Foundry and Great Central Railway to increase visitor numbers and to improve the riverside along Grand Union Canal.

The bid has been submitted to the Ministry of Housing, Communities and Local Government in October 2020.

It will be assessed before a decision is made, which is expected to be in 2021.