16-07-2010 | Innovation Centre project gets green light
A £4.2 million project to help fledgling businesses set up and prosper is set to begin in the next few weeks after funding was secured.
The Harborough Innovation Centre will be built on land at Airfield Business Park, on the outskirts of Market Harborough, after it was confirmed the project would not be affected by the recent review of Government spending commitments.
In May, the East Midlands Development Agency (emda) confirmed funding for the project would be made available, but the Coalition Government's review of funding, after the general election, meant the future of the project was still uncertain.
However, this week, confirmation was received from emda that the funding was secured and that work on the eagerly-awaited project could begin.
emda will provide £4m through the European Regional Development Fund (ERDF) and the Sub Regional Investment Plan (SRIP) to complete the partnership project.
Developer William Davis Limited will contribute complementary work space as part of the project to the value of £1m.
Harborough District Council is adding £200,000, and will be assisted in developing the centre by Prospect Leicestershire, the economic development company for Leicester and Leicestershire, which worked with the district council to secure the funding, and select the contractor.
Once built, the Harborough Innovation Centre (HIC) will provide a base for new businesses, with support available to ensure they survive and prosper.
It will also provide much-needed employment opportunities in the district, both during the construction phase, and also longer term as businesses move in and take on staff.
Cllr Michael Rook, Leader of Harborough District Council, said "We are particularly grateful for the perseverance and integrity of the senior officers at Harborough, especially the chief executive Sue Smith, for driving the project through its procurement stages and not being diverted by the challenges encountered."
Stewart Kellie, development surveyor, William Davis Ltd, said: "The Innovation Centre will be an interesting and iconic building that will occupy a prominent gateway location at the new Airfield Business Park. Designed to meet the highest sustainability standards, this state-of-the-art business centre will hopefully provide a catalyst for further enterprising development at the Park and in the surrounding areas."
Nick Carter, executive chairman of Prospect Leicestershire, said: "This has been a great example of team work and is good news for Harborough and for the whole area. This will be the first major building project delivered by the new economic partnership."
David Parsons, Leader of Leicestershire County Council, said: "I am delighted to hear that the funding needed for the construction of Harborough Innovation Centre has been made available. This will be an important addition to the economic development offer of Market Harborough and an asset to the County as a whole."
Building work is set to begin over the next few weeks, with completion expected in June 2011.
When complete, the centre will boast 60 offices, plus meeting rooms and a number of ‘hot-desks' for shared use.
ENDS
NOTE TO EDITORS
Photo call - a photo call has been arranged for Monday (July 19), at 3pm at Airfield Farm. Radio crews can also attend.
There will also be a formal ‘sod cutting' photo call in August. Date TBC.
Full planning permission was granted for the centre on March 16, 2010, by Harborough District Council's planning committee.
East Midlands Development Agency (emda) is one of nine Regional Development Agencies in England, set up in 1999 to bring a regional focus to economic development. Ten years on, independent evaluation shows emda has:
* Had a significant impact on the region's economy
* Generated economic benefits that substantially outweigh its overall costs
* Put back over £9 of economic output (or GVA) into the regional economy for every £1 it spends
* Produced more than £1 billion in economic benefits per year
* A wider impact on people, places and businesses in the East Midlands that cannot be captured by figures alone.
Sub Regional Investment Plan (SRIP) - The HIC is one of a number of projects being delivered as the result of a unique new partnership between local authorities, businesses and other organizations across Leicester and Leicestershire that aims to drive economic growth.
Leicester City Council and Leicestershire County Council have formed an economic alliance that includes all the district councils. A multi area agreement has been approved by the Government, with a vision of improving standards of living for everyone in the area.
A Leadership Board has been created to make strategy and funding decisions, guided by detailed information about local economic conditions. It includes representatives from local authorities, private sector and major funding agencies East Midlands Development Agency and the Homes and Communities Agency.
A new economic development company, Prospect Leicestershire, has been launched to bring together responsibility for regeneration and inward investment.
Innovation Centre - funding breakdown
HDC - £0.2m
EMDA - £4.048m (via ERDF - £1.689m and SRIP - £2.359m)
Total - £4.248
WD - Additional business space to value of £1m.
Site visit...chief executive Sue Smith, Harborough District Council leader Michael Rook and Stewart Kellie of William Davis at the Airfield Business Park in Market Harboroughin Leicestershire
