Grow on Space gets green lightPublished Tuesday 16 October 2018
A major project to help businesses expand and grow – set to bring £20million into the Harborough district economy – is set to be created after funding was secured.
Harborough District Council is providing up to £3,620,612 to fund the Grow on Space project and has just announced that £3,282,500 funding from the European Regional Development Fund (ERDF) and £987,833 from the Leicester and Leicestershire Enterprise Partnership (LLEP) has been officially confirmed.
The project will see the development of a new commercial building that would provide office space for businesses looking to grow and move into larger accommodation in the district.
The Grow on Space project is expected to create around 230 jobs and bring £20million into the local economy over the next five years.
Leader of the District Council Neil Bannister said securing the funding was the result of a huge amount of hard work, over a number of years, by Harborough District Council and thanked all for their commitment in achieving this successful outcome.
A video featuring Councillor Bannister explaining what this means for the Harborough district is available to view here
In the video Cllr Bannister says: “It will provide 19,000 square feet of office space, supporting 10 to 15 companies when at full capacity. About 230 jobs are likely to be created and that will bring in an extra £20million to our local economy here in the Harborough district. This is a really exciting opportunity and it shows the district’s commitment to economic prosperity and support for our business community.”
The Grow on Space building, which would be located at Compass Point Business Park in Market Harborough, is expected to be completed in late 2019 and will be built to high environmental standards [BREEAM Excellent].
When complete, office suites will be available ranging from 1,000-3,000 square feet with flexibility to meet business demand.
The Grow on Space follows the success of the Harborough Innovation Centre, which Harborough District Council developed and opened in 2011, to provide office space for start-up and new businesses.
More information at www.harborough.gov.uk/grow-on-space
Pictured: Artist's impression of how the Grow on Space building will look.
Notes to Editors
European Regional Development Fund
The project is receiving £3,282,500 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Ministry of Housing, Communities and Local Government (and in London the intermediate body Greater London Authority) is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit https://www.gov.uk/european-growth-funding.
The Leicester and Leicestershire Enterprise Partnership (LLEP)
The LLEP is a strategic body led by a Board made up of local government and business leaders as well as senior education and third sector representatives.
The LLEP’s remit is to drive forward regeneration and growth of the local economy, by:
- Working with Government to set out key investment priorities for Leicester & Leicestershire
- Engaging with business, local authorities, Higher Education, Further Education, the voluntary sector and other stakeholders
- Facilitating local partnership working and relations with national Government
- Influencing national Government economic policy and spending
- Investing LLEP funding and aligning partner resources
- Through its investments, influence and activities ensure positive outcomes for the local economy
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