The Torquay Gateway employment project located on the junction of the South Devon Highway has been awarded £1.96m in funding to accelerate the development of the site.
The project which has received a share of the Government’s Getting Building Fund will allow for much needed infrastructure work to be carried out, as we work to attract businesses into 2000sqm of official and industrial space.
In a bid submitted by The Heart of the South West Local Enterprise Partnership (HotSW LEP), a total of 12 ‘shovel-ready’ projects across Devon, Plymouth, Somerset and Torbay will benefit from the Getting Building Fund. Projects include the development and regeneration of key local sites, investment to improve transport and digital connectivity, and innovation and technology centres.
This much welcomed funding comes at a crucial time as we look to accelerate our COVID-19 economic recovery plan and create much needed jobs.
The development which will offer highly visible and prominent employment space will act as Torquay’s ‘shop window’ and complement the new Edginswell station and the proposed development of approximately 400 new homes.
Cllr Darren Cowell, Deputy Leader for Torbay Council, said: “Torbay is one of the places forecast to be hardest hit by the COVID-19 economic fallout, therefore we welcome this investment of £1.96m from the Government’s Getting Building Fund. The Torquay Gateway project will have a wide range of local benefits including creating travel, employment and housing opportunities in Torbay’s largest and most strategically urban extension.
“A further two local projects have also been invited to bid for a share of the Getting Building Fund, the EPIC Centre and South Devon College Hi-Tech & Digital Centre, both located in Paignton are looking to purchase new equipment to enhance the testing capability in the centres and support the growth and development of new talent from the growing hi-tech sector, and at Torbay Business Centre on Lymington Road in Torquay where we are looking to provide additional space to support business growth and flexible working arrangements in modern fit for purpose spaces”.
Cllr Swithin Long, Cabinet Member for Economic Regeneration, Tourism and Housing for Torbay Council, said: “As a council we are working hard to recover our local economy and reposition Torbay so that it becomes more resilient to any future shocks. We are also bidding for Future High Streets Fund and Town Deal funding for Paignton and Torquay respectively and we look forward to receiving support from the Heart of the South West Local Enterprise Partnership on these programmes”.
To find out more about the Getting Building Fund projects visit the Heart of the South West LEP website.
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