£70K cash boost to help Mansfield council chiefs bring more than £12m in government funding into district
Mansfield District Council is set to receive £70,000 in Government funding to help prepare for more than £12m in business development into the district to help drive financial regeneration.
Ministers have authorised a total of £12.3m into the district’s Town Fund – from a national pot of £3.6bn, announced by Prime Minister Boris Johnson in 2019.
The cash is aimed at boosting regeneration in terms of ensuring towns are thriving places to live and work by strengthening local economies, improving employment skills and supporting small business, and improving travel infrastructure.
Under the terms outlined by the Government, the council can now put forward projects to achieve these aims.
The initial £70,000, which was confirmed with the authority last month by the Ministry of Housing, Communities and Local Government, is to finance the council to put forward successful business cases in the second phase of the fund process.
The cash is expected to be formally accepted by the portfolio holder for corporate and finance, Councillor Craig Whitby, as a delegated decision on April 27.
The authority had applied for funding of almost £26m, but the Ministry eventually awarded less than half that amount.
Speaking about the total funding pot, mayor Andy Abrahams said: “While the council and place board are disappointed not to have received the full amount, we are pleased to hear that up to £12.3m is on the way to Mansfield.
“This will inject much-needed cash into the district and help to kick-start regeneration in the local economy at a very crucial time as we emerge from the effects of the coronavirus pandemic.
“It will also encourage further investment to help make Mansfield a destination of choice for living, working and learning."
Andrew Cropley, principal and chief executive of West Nottinghamshire College and chairman of the Making Mansfield Place Board, said: “Our intention through the bid is to make a significant investment to give more people the skills they need to access well paid, high quality, forward-looking, secure employment.
“We also want to enable local businesses to upskill their employees so they can become more productive, embrace new technologies, enter new markets, grow their businesses and offer yet more opportunities to local people. Whilst we’ve only been given half of what we need, I hope this funding will help us in realising this vision."