Business leaders receive progress report on £40m Loughborough Town Deal
Andy Reed OBE, vice-chair of the Loughborough Town Deal Board.
Business leaders gathered to find out more about the multi-million investment being delivered through Loughborough Town Deal.
Around 90 guests attended a business briefing to hear about the progress of the 11 projects worth over £40 million of investment which are being supported by the Town Deal.
Andy Reed OBE, vice-chair of the Town Deal Board, told guests the projects were designed to boost skills, regenerate the town, and support the local visitor economy.
Minister for Enterprise, Markets and Small Business Kevin Hollinrake also joined the briefing virtually to speak to guests about his experience of starting his own business before moving into politics and what the Government was doing to support businesses.
Guests also heard from Dr Chrissie Van Mierlo who updated them about progress on the John Taylor & Co Bellfoundry project and Prof Chris Rielly who spoke about the Healthy and Innovative Loughborough project.
You can reed the full press release via the button below and there is more information about the projects below as well.
 Prof Chris Rielly speaks to guests at the Delivering the Deal event.
 Dr Chrissie Van Mierlo speaks to guests at the Delivering the Deal event.
Loughborough Town Deal projects
Loughborough Town Deal is supporting 11 projects in Loughborough which will improve skills, help regenerate the town and support the visitor economy.
The Loughborough College Digital Skills Hub will help to enhance the skills of the local workforce and fostering industry connections. Based at Loughborough College, the hub will provide T-Levels, apprenticeships, and Kickstart job placements, targeting unemployed and semi-skilled adults to aid their journey into employment.
Living Loughborough is backed by a £2.87 million Town Deal grant and is designed to revitalise the town centre. The project is in fact made up of a number of exciting initiatives which aim to make the town centre a more vibrant, secure and sociable hub where locals and visitors can gather, dine, enjoy entertainment, and shop.
Healthy and Innovative Loughborough is a project that includes Sport Park Pavilion 4 - the extension to the sports cluster on the university campus which was officially opened in October. It also supports business innovation, is empowering local people to develop healthier lifestyles and also looking to improve transport connectivity in town. An Impact Hub will also analyse the town's health to plan for future improvements.
The Flood Risk Management Scheme aims to create a robust flood defence scheme, backed by a £2 million Town Deal grant. This initiative aims to open up development opportunities and mitigate the risk of flooding for numerous residents and businesses.
The Bedford Square Gateway Project has been completed with the help of a £1.7 million grant. It has resulted in a town centre that is both attractive and accessible, linking urban areas with open spaces including the award-winning Queen's Park.
The Generator project will see a £1.6 million Town Deal grant help to transform a significant derelict 1930s building in a key location into a vibrant cultural centre for creative industries and community arts.
The historic Grade II* John Taylor & Co Bellfoundry is set for a significant revamp, thanks to £3.5 million of funding from the National Lottery Heritage Fund and £835,000 from Loughborough Town Deal . This project aims to restore the at-risk foundry and secure the future of an industry identified as 'Critically Endangered' in Britain.
The Riverside Regeneration project has revitalised a historic national waterway corridor thanks to the work of the Canal & River Trust. This project was completed in 2023 and has seen 2km of canal towpath through the heart of Loughborough resurfaced and enhanced.
The Careers and Enterprise Hub is a collaboration between Loughborough College and Loughborough University. This hub opened in 2021 and provides people of all ages with resources and guidance for skill development and business startups. With £900,000 of Town Deal support, the hub has become a crucial player in levelling up opportunities and stimulating economic activity in Loughborough. It has brought a disused commercial unit back into use.
Great Central Railway is receiving a Town Deal grant of £280,000 is helping to preserve and develop Europe's only surviving double-track heritage railway. Unique in the UK, this railway is the only location where heritage trains can be seen passing each other at speed.
The Lanes and Links project has been awarded a Town Deal grant of £669,000. It is a comprehensive initiative designed to better connect Loughborough's town centre and Queen's Park. This ambitious plan includes improvements to Old Bleach Yard and Devonshire Lane, which link the park to the town centre via Granby Street car park. It will also see the creation of a Covid memorial - the Hope Bell.
More information is available on the Town Deal website.
Click on the image to watch the video.
Members of the Loughborough Town Deal Board, Andy Reed OBE, Jane Hunt MP and Cllr Jewel Miah spoke to us about how Loughborough Town Deal is delivering for the area and how important it is to work with local businesses and partners.
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