You are here
Great Yarmouth secures exciting £20.1m Town Deal: bringing national investment pledged for borough to £42m in seven months
Great Yarmouth has secured a Town Deal of £20.1m Government investment to deliver an exciting £60m vision supporting economic regeneration, recovery, jobs and growth across the borough’s main urban areas.
The major capital funding, confirmed in the Chancellor’s Budget, follows submission in December of an ambitious Town Investment Plan for Great Yarmouth, Gorleston and Bradwell, focussing on attracting further investment, driving economic regeneration and recovery.
Shaped through a Town Deal Board of local ambassadors, alongside significant public engagement, the ambition is to re-invent public places, to tap into and grow a thriving arts and cultural scene, to support new homes, nurture new jobs, businesses and new opportunities to learn and grow, to make residents, businesses and visitors proud.
The Town Deal comes on top of £13.77m from the Government’s Future High Streets Fund and £8m from the Government’s Getting Building Fund, bringing the total national investment announced in the last seven months to £42m.
Chris Sargisson, CEO of Norfolk Chambers and Vice Chair of the Town Deal Board said: “This is very exciting news for Great Yarmouth and will bring benefits to both businesses and residents alike.”
Henry Cator, Chairman of the Town Deal Board and High Steward of Great Yarmouth, said: “This great news for our borough is thanks to the hard work and expertise of many people from private, public and third sector organisations, who were involved in shaping a really compelling Town Investment Plan, as well as everyone who took part in the public surveys and engagement to share their priorities for investment.
“Our residents and communities are at the heart of our ambition to realise a vibrant and inclusive coastal economy that builds upon our successes and our strengths in clean energy and culture, capitalises upon our natural assets, heritage and attractions and responds to emerging cultural and technological challenges.”
Cllr Carl Smith and Cllr Trevor Wainwright, Leaders of the Council’s main political groups, said: “The Town Deal is a critical part of our agenda with partners to invest in our place, to support economic regeneration, recovery and job prospects for communities, which includes the £26m new Marina Centre and £120m Third River Crossing now underway.
“We are overjoyed to have secured 81 per cent of the funding ask towards delivering the vision. To have unlocked national investment of £42m in just seven months is phenomenal for a borough of our size and that will really help with securing further investment from a range of sources.
“This national capital investment is critical to supporting economic recovery in the medium to long term and comes on top of more than £40m we’ve administered in the last year in grants to support businesses, many of which we realise are struggling in the here and now.”
Brandon Lewis, Great Yarmouth’s MP, said: “This significant investment is great news for the borough, helping to push forward a vision of Great Yarmouth best placed to address the opportunities and challenges of the modern age.
“As the MP for Great Yarmouth, I passionately supported this bid in Westminster and I would like to praise the Town Deal Board and borough council for putting forward a compelling vision and robust case for Great Yarmouth.”
Following the Budget announcement, the council will work with the Town Deal Board and other partners on stage two of the programme, which involves working with partners to develop business cases for each of the projects.