East Hants Invest for Growth Initiative

Project description

The Invest for Growth initiative combines private sector contributions, Local Growth Funding from Enterprise M3 and Local Authority funding to create a single fund to be invested in the local economy. The fund will be invested in business premises with the resulting rental income reinvested in the local economy through new modern business premises, business support and skills programmes. The initiative demonstrates an innovative and proactive way through which the public sector can secure employment land, jobs and drive economic growth. The Invest for Growth Initiative aims to:

• Achieve a balance between employment (supply of modern business premises and job creation) and housing provision and ensure that developments contribute to establishment and maintenance of a sustainable local economy.
• Create a local economic development fund aimed at raising finance for re-investment in the local economy. This can be through match funding for investment in business premises, infrastructure improvements, skills programmes and business support initiatives.

The fund has been used to develop two new office buildings and three industrial units at the former Ordnance Supply Unit Site in Liphook. Enterprise M3 has supported this project as responds to the findings of the Enterprise M3 Commercial Property Market Study (2016) and the revenues generated will help support ongoing economic development activity in the area.

Project output

• 140 jobs
• 2000 sqm floorspace
• 85 new dwellings