Massive investment from the government and private bodies has been confirmed for Great Grimsby by central government.
On the 27th of November, the proposal put forward by North East Lincolnshire Council for investment in housing, culture, heritage and businesses was confirmed in the government’s new industrial strategy.
The deal being enshrined in the government’s 2017 Industrial strategy announcement made by the Prime Minister, Theresa May.
Working with major partners in the private investment industry such as Associated British Ports (ABP) as well as Ørsted (formerly Dong Energy) this deal has been more than 12 months in the making.
Coucillor Ray Oxby, leader of North East Lincolnshire council, said “£218 million of investment” is expected over the development of this deal.
He went on to point out the significance of this deal for the town:
“It will act to stimulate the local economy, through government funding and heritage lottery funding and other support.
This is the first town deal ever enshrined in a government document, which gives us huge credibility and reputational enhancement for investment.
The direct investment is the £218 million anticipated from private developers, public sector funding and council funding and lottery funding etcetera, which is where our Chief Executive, Rob Walsh is so important, making sure we get some tangible funding.
Alongside; the intangible effects… where businesses will see this as an up and coming area and will see that this is an area and an authority that wants to work with businesses and invest.”
He also pointed out the hope for higher education to be impacted by this deal:
“Working with Hull and Lincoln universities we are ambitious to get another higher and further education offer around renewable energy and research and development in that sector.”
This pilot segment of the deal will see an initial £36.9 million from Westminster, this short-term delivery is hoped to begin work on the cultural and business regions of Grimsby Town, the centre, the Victoria Mill region and the Kasbah port area.
The long-term aims include the creation of 5,400 jobs as well as the building of nearly 8,000 homes.
MPs, Melanie Onn and Martin Vickers have shown a great deal of support for the deal that will heavily affect their constituencies.
Funding will be channelled through the Greater Grimsby Board with the local authority acting as the Accountable Body over the development of the deal.
I also spoke to Rob Walsh, Chief Executive of North East Lincolnshire council, about the positive impact of this deal on the area: