Investment News | 14 April 2021
Derbyshire to receive £50m of Towns Fund cash
Two locations in Derbyshire are to receive a share of the Government’s £1 billion Towns Fund, which is designed to kickstart redevelopment projects.
In his Budget speech last month, Chancellor of the Exchequer Rishi Sunak revealed the 45 areas that would receive a share of the money, which aims to help towns “level up” and recover from the pandemic.
In Derbyshire, Clay Cross and Staveley were among the areas to successfully bid for funding.
Clay Cross will receive £24.1 million to support a number of regeneration projects being started.
Its plans involve the demolition of old derelict buildings to make way for new developments, such as an innovative leisure facility.
Councillor Carolyn Renwick, North East Derbyshire District Council’s cabinet member for economic development, said: “To be awarded the full sum we asked for – over £24 million – will mean Clay Cross will be an exciting hub of redevelopment, opportunity and prosperity for years to come.
“With many exciting projects planned – and wanted by the residents, this opportunity will really put Clay Cross on the map, with a new leisure centre set to be started on, retention and re-use of historic buildings and assets and the demolition of the derelict sites.
“The jobs that will be created during the construction phase will follow on to a transformation of the town, with opportunities for investment from businesses to come and join the town – with employment opportunities here for this and generations to come.”
Meanwhile, Staveley received £25.2 million from the Towns Fund, following a successful bid by the Staveley Town Deal Board.
The money will be used to help fund 11 projects, which will drive long term economic growth, offer quality skills and employment opportunities and improve the green spaces and canal network around Staveley.
The funding will be spent over a five-year period, steered by the Staveley Town Deal Board, and with the overall programme managed by Chesterfield Borough Council.
Councillor Tricia Gilby, leader of the borough council and vice-chair of the deal board, said: “This is a golden opportunity, which paves the way for this former mining community – which has often been overlooked by previous national funding programmes – to realise its full potential both now and in the future.”
