£7.8million Government investment in Loughborough

Two projects in Loughborough have been chosen by the Government to get cash from the 'Getting Building Fund'.

Loughborough MP, Jane Hunt, has welcomed the news of a £7.8million investment in Loughborough from the ‘Getting Building Fund’.

The new £900m fund was launched by Prime Minister last month and locally two projects have been chosen to get a share of the pot of money.

£6million will go towards the construction of 2,000 sqm additional employment space at the SportPark cluster at Loughborough University. The project will create a fourth pavilion of 2,000 sqm floorspace to the five-storey building which houses the UK’s highest concentration of sports governing bodies and national sports organisations.  SportPark’s expansion will directly support 165 jobs with an additional 157 induced jobs in the wider economy, stimulating further demand to bring sports related businesses to the region.

£1.8million has been allocated the for J23 M1 A512 Access Improvements. The scheme will deliver an upgrade of 2.5km of single carriageway road to dual carriageway; the remodelling of five A512 junctions and improvements to M1 junction 23; access to a significant new area for housing and economic development; and improved access to Loughborough University Science and Enterprise Park, which will aid delivery at the science park and benefit the wider economy.

The two schemes are two of four key infrastructure projects which the Leicester and Leicestershire Enterprise Partnership has been tasked to deliver as part of the central government fund. Projects were chosen based on their impact on the region’s economic growth.

Commenting on the news, Loughborough MP Jane Hunt said: “Attracting investment into Loughborough was one of my key election promises, so I was delighted when the Government announced that we would be receiving millions of pounds to deliver on these two projects locally.

“The £6million funding will help play a role in realising the ambition to create a global sports hub here in Loughborough.

“And the £1.8million allocated funding for highways infrastructure will improve accessibility to Loughborough University Sport and Enterprise Park and deliver economic growth.

“This is a huge investment in Loughborough and an acknowledgement by the Government of Loughborough’s commanding position as a world-leader in sports and sports science.”