As part of the Governments Towns Fund initiative, a specially created North Lincolnshire Towns Fund board has continued its business by holding virtual meetings to pull together a plan about how best to use the expected £25m investment to further develop the Scunthorpe area.
This is on top of the £37m already invested by both public and private sector in Scunthorpe town centre alone over the last two years.
The funding is specifically to enable investment in business productivity, skills and the built environment.
The board includes Scunthorpe MP Holly Mumby-Croft, Andrew Percy MP, representatives from North Lincolnshire Council, and senior business leaders from the manufacturing, leisure, retail and housing sectors.
The Government has asked the board to develop an investment plan and it was decided unanimously at the first meeting that this plan will cover not just the Towns Fund money but broader projects and investment too.
Mary Stuart, Vice Chancellor of the University of Lincoln who chairs the board, said:
“Given all that is happening around the world at this time and the challenges being faced by us all as a result of Covid-19, it is a relief to have a positive message for North Lincolnshire and Scunthorpe. This investment has come at an opportune moment for the region. It will enable us to continue to build on all that we have so far achieved collectively as a community, including the town centre projects and the University Campus. This finance will allow us to invest in the built environment of the town and further support the development of its entrepreneurial and cultural capacity. This is enabling us to prepare for the future and to enable Scunthorpe and North Lincolnshire to play their vital part in that future.”
Cllr Rob Waltham, leader of North Lincolnshire, added that:
“This a great boost for the town. We intend to invest wisely, using this funding to reinforce our collective ambitions for Scunthorpe and North Lincolnshire. This will strengthen our key priority of growing the economy. We can really use this as another catalyst and build upon our already successful growth. I also encourage members of the public to let us know what they see as a priority of investment. This can be done through the MyTown portal website.”
The investment plan is due to be completed in the autumn of this year.