Funding secured for the development of the Whitehill & Bordon Business and Enterprise Centre
Investment in a proactive approach to address housing and employment availability issues in East Hampshire
It has been announced today that East Hampshire is to benefit from Local Growth Deal funding awarded to Enterprise M3 Local Enterprise Partnership. This money is included in today’s Government announcement that Enterprise M3 has been awarded a further £29.9million of funding from its Local Growth Fund and £42million in loans from the Public Works Loan Board. This is in addition to the £118m of funding which was announced in July 2014.
The funding for East Hampshire announced today will be used to support two infrastructure projects that will bring forward new housing and employment space and create new jobs and businesses throughout East Hampshire. This funding is in addition to the £20million of Local Growth Funding for Whitehill and Bordon which was announced in July last year.
The projects East Hampshire has been awarded funding in this tranche are:
The development of the Whitehill and Bordon Business and Enterprise Centre. This centre will deliver over 2,300 sq m of new employment space in Whitehill and Bordon and is aimed at attracting entrepreneurs and supporting local start-ups and small businesses in the area. It is part of wider plans backed by the Homes and Communities Agency to deliver 500 new and affordable homes and create 500 new jobs for the area.
A pilot scheme for rural areas in East Hampshire which aims to increase housing and quality employment space supply in the area
The Enterprise M3 Growth Deal, which is now worth £148million aims to drive economic development by investing in key infrastructure projects to improve connectivity across Hampshire and Surrey. Enterprise M3 estimates that the Deal will bring forward up to 4,000 new homes, create up to 7,000 new jobs, attract up to £410m new public and private sector investment into the area and improve transport links within and between key towns in Surrey and Hampshire.
The Enterprise M3 Growth Deal brings together local, national and private funding focussing on four key priority areas as identified in the LEP’s Strategic Economic Plan:
Supporting enterprise and innovation
Growing the skills base in the region
Accelerating housing delivery
Enhancing urban and rural connectivity
Enterprise M3 will be working with project partners on the details of the schemes and all schemes will be subject to due diligence and contract.
Geoff French, Chair of Enterprise M3 Local Enterprise Partnership, commented: “Today’s announcement of further Government funding for East Hampshire clearly indicates the importance that both the LEP and Government place on this part of the Enterprise M3 area. Our Strategic Economic Plan has identified Whitehill and Bordon as a ‘Step-up Town’, a town of untapped potential which, with greater investment, can perform at a higher level. The two projects announced today, plus the two others announced in July, will play an invaluable role in building the homes, creating the jobs and improving the transport links that are needed to address the employment, skills and growth issues in Whitehill and Bordon.”
HCA head of area Kevin Bourner said: “The funding in the business and enterprise centre provides a real boost for East Hampshire. This facility is the next phase of a strategy that will attract new businesses and employment opportunities. It builds on the progress partners have made over the last two years in getting to the stage where significant development work is about the start. These are exciting times for Whitehill and Bordon and and it’s great to have the LEP’s support on this important project.”
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Notes to editors
*The Growth Deal is subject to a satisfactory conclusion of the funding agreement
Local flexibility over Growth Deal programme: Enterprise M3 has demonstrated strong partnership arrangements which deliver collective decisions, has articulated a clear and deliverable vision for growth in the area and has established strong financial monitoring procedures and cross local authority collaboration. As a result Enterprise M3 will be expected to deliver the projects highlighted in the Deal wherever appropriate, but will have flexibility to manage how these projects are delivered to bring the greatest economic benefits to the area. Government will disburse funds to the LEP annually in advance; however the LEP will need to discuss any changes to projects with Government before doing so.
The Growth Deal does not amount to an endorsement of everything in the submitted SEP. All development decisions for specific proposals must go through the normal planning process and be guided by local plans taking into account all material considerations.
Enterprise M3 Local Enterprise Partnership
Enterprise M3 is a business-led Local Enterprise Partnership, one of 39 in England, which is working to secure economic growth at sub-national level. We bring together leaders from the business, public and not-for-profit sectors and provide the vision, knowledge and strategic leadership needed to drive sustainable private sector growth.
Our aim is to create the foundations on which our businesses can flourish. We strive to improve business productivity, increase jobs and maximise the number of businesses operating across Enterprise M3. For more information visit: www.enterprisem3.org.uk
The Enterprise M3 LEP area stretches from the hinterland of London to the New Forest covering mid to north Hampshire and South West Surrey. The LEP area brings together business leaders from 14 district authorities across two counties and has four major interconnected urban centres known as ‘Growth’ towns: Woking, Guildford, Farnborough and Basingstoke and five ‘Step-up’ towns: Staines-upon-Thames, Camberley, Aldershot, Whitehill and Bordon and Andover.
The councils involved in the M3 LEP are:
Hampshire County Council
Surrey County Council
Basingstoke and Deane Borough Council
East Hampshire District Council
Elmbridge Borough Council
Guildford Borough Council
Hart District Council
New Forest District Council
Runnymede Borough Council
Rushmoor Borough Council
Spelthorne Borough Council
Surrey Heath Borough Council
Test Valley Borough Council
Waverley Borough Council
Winchester City Council
Woking Borough Council