£17 million funding boost for Loughborough

It's one of the biggest single public sector investments in the town and its communities for many years.

The Loughborough Town Deal Board worked with local businesses and residents on its investment plan which aims to create a “Loughborough for All” and make the town a better-connected place where people will want to live, learn, work, and grow.
 
Cllr Jonathan Morgan, co-chair of the Town Deal Board and leader of Charnwood Borough Council, said: “This is fantastic news for Loughborough. The Town Deal investment will significantly boost the area’s recovery from the pandemic by creating jobs, improving skills and making Loughborough a better-connected place where people want to live, work and visit.
 
“The town is brimming with potential and the Loughborough Town Deal is the key to unlocking it.
 
“I would like to thank everyone who has played a part in developing the Town Deal bid and we must now seize this incredible opportunity for Loughborough.”
 
Dr Nik Kotecha, co-chair of the Town Deal Board, said: “This successful bid is not only a victory for Loughborough, but also for the amazing collaboration that went into putting together the investment plan.
 
“We have involved many organisations, businesses and residents from across Loughborough to identify what holds the town back and what we can do to overcome that. The resulting investment plan sets out how we will make Loughborough a better place for everyone.
 
“I would like to thank everyone who has supported the Loughborough Town Deal so far and I look forward to that continuing.”
 
Loughborough is one of 26 Town Deals to be revealed today.
 
News of the successful Loughborough bid comes shortly after the opening of the Careers and Enterprise Hub in Loughborough town centre which was made possible thanks to £750,000 of advanced Town Deal Funding. The hub was created thanks to a partnership between the Council, Loughborough College and Loughborough University.
 
The Loughborough Town Deal board involves a range of organisations, including Charnwood Borough Council, Loughborough University, Loughborough College, Love Loughborough, Leicestershire County Council, the Leicester and Leicestershire Enterprise Partnership, Charnwood Together Economy and Skills Group, local businesses and Loughborough MP Jane Hunt.
 
The board is supported by a community engagement and consultation group and a Member Reference Group. Two consultations have been held with residents and local businesses which included online surveys, focus groups and virtual meetings. These all played a critical role in shaping the Town Investment Plan.