Published on 1st November 2024
£20m funding for the Golden Valley Development has today been re-confirmed following the Budget.
Cheltenham Borough Council had provisionally secured the funding in the third round of the previous government’s Levelling Up Fund but until today, had not received confirmation that it would be granted under the new government’s plans.
In a letter from the Deputy Prime Minister, Angela Rayner, confirmation has been received that the government will protect funding for Ministry of Housing, Communities and Local Government (MHCLG) managed projects announced in rounds 1-3 of the Levelling Up Fund (LUF) recognising that many of these projects will unlock vital local growth and regeneration across the country.
Securing the funding is a significant milestone for Golden Valley and paves the way for the council to start drawing down the funding to continue to deliver the first phase of this unique development – the construction of the National Cyber Innovation Centre.
Cllr Rowena Hay, leader of the council said: “We are delighted that £20million levelling up funding for the Golden Valley Development has been re-confirmed following the Budget. We have always been confident that the National Cyber Innovation Centre will be successfully delivered. It will be a national asset that has the potential to build on Cheltenham’s place as a global leader in technology and security.
“The opportunity offered by Golden Valley not only helps us deliver jobs and prosperity for local people but will also lead to a notable transformation in national-security relations between government, academia and industry. The National Cyber Innovation Centre has been described as ‘a true international centre of innovation’ in the National Cyber Strategy.
“Now we have confirmation we can continue to realise the vision and ambition of the Golden Valley Development and we look forward to working closely with all stakeholders to bring this transformative project to life.”
