Telford in line to benefit from share of £3.6bn Towns Fund
Telford is among 100 places in line to receive up to £25 million from a £3.6bn government funding pot.
A total of 33 places in the Midlands Engine and 42 places across the Northern Powerhouse are among the 100 pioneers of new Town Deals as part of the government’s commitment to level up all regions by boosting productivity, skills and living standards.
The Government says that towns including Telford which are eligible for support from the £3.6 billion Towns Fund include places with proud industrial and economic heritage but have not always benefitted from economic growth in the same way as more prosperous areas.
Plans will now be drawn up to transform Telford’s economic growth prospects with a focus on improved transport, broadband connectivity, skills and culture. The government will publish a prospectus as a guide to the process and set eligibility criteria for funding.
Local Government Secretary, Rt Hon Robert Jenrick MP, said:
"Ensuring that prosperity and opportunities are available to everyone in this country, not just those in London or our biggest cities, is at the heart of the mission of this government.
"We want to level-up our great towns, raising living standards and ensuring they can thrive with transformative investment in transport, technology, skills and culture.
"I will now work with local people from the 100 communities announced today to agree proposals to invest up to £25 million in each place. I hope these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with a new optimism."
Cllr Lee Carter, cabinet lead for regeneration, said: “We have an exceptional track record of investing to generate growth in our borough, upgrading roads, footpaths, superfast broadband and regenerating estates and our High Streets and. This investment has totalled well over £150 million to date, so any extra investment into our borough is very welcome.
“Whilst we’re waiting for the precise details, this will help us build on the programme we have set out for the next four years to protect, care and invest to create a better borough.”
Today’s announcement follows the Prime Minister’s confirmation in July of an additional £1.325 billion to support towns as part of a renewed vision to level up regions, which took the total value of the Towns Fund to £3.6 billion.
