- Former coalfield areas in England, Scotland and Wales are set to get a share of £13.5 million to construct new industrial developments for businesses.
- Projects will create hundreds of new jobs and support thousands more, bringing opportunity to areas that have suffered decline overseen by previous governments for decades.
- Investment is part of this Government’s plan to build a stronger and fairer economy by creating the conditions for growth through local investment.
Cowdenbeath in West Fife, St Helens in Merseyside and Seven Sisters in Neath Port Talbot are among six locations that have been selected to get a share of £13.5 million – breathing new life into areas neglected for decades by previous governments.
The money from the Government’s Growth Mission Fund will pay for half of the construction costs of new industrial developments which will house small and medium-sized businesses. The Coalfields Regeneration Trust – a charity dedicated to creating jobs and injecting growth into coalfield areas – will fund the other half.
Former coalfield areas have been selected to receive this funding as the Chancellor pushes to return jobs, opportunities and investment to areas that were once a hub of industry.
The funding will support entrepreneurs in those areas who want to start their own business – or business owners who want to expand their company – in their hometown, rather than feeling forced to go to the next biggest town or city with a stronger economy.
Chancellor of the Exchequer, Rachel Reeves, said
These areas have been overlooked for decades by the previous government. Our investment in new industrial developments is one way we’re making it a stronger business destination where jobs and opportunity are created, not wasted.
If you are an entrepreneur in a former coalfield area wanting to start your own business – or are already a business owner there wanting to expand your company – we are backing you.
Andy Lock, Chief Executive of the Coalfields Regeneration Trust, said
This is fantastic news for coalfield communities, and this investment will deliver benefits for many years to come.
Our industrial developments will create hundreds of jobs and economic growth for the coalfields, while the income generated will support more grassroots community organisations and vulnerable people in the coalfields.
This funding will change thousands of lives in coalfield communities, taking us another step forward to address the challenging legacy of the pit closures.
The investment is part of the Chancellor’s work to build a stronger and fairer economy, making previously overlooked parts of the country better places to live, work and start a business.
Subject to approval of the final business cases, the six areas set to receive funding are
- Cowdenbeath (Perth Road) 51,000 square feet of light industrial units will be built along with a substation and 87 car parking spaces. 103 jobs will be created on site with hundreds more supported.
- St Helens (Robins Lane, Sutton Fold) 32,000 square feet of light industrial units will be built alongside 54 car parking spaces. 64 jobs will be created on site with hundreds more supported.
- Thoresby (Thoresby Vale Colliery) A 22,500 square foot industrial development is proposed once the site is purchased – expected later this summer.
- Ashington (Ashwood Business Park) 49,500 square foot industrial development is proposed once the site is purchased – expected later this summer – and planning permission secured.
- Resolven (Vale of Neath Business Park) A 30,000 square foot industrial development is proposed once the site is purchased – expected later this summer – and planning permission secured.
- Seven Sisters (Nant y Cafn Business Park) A 45,000 square foot industrial development is proposed once the site is purchased – expected later this summer – and planning permission secured.
Once complete, sites will be self-sustaining, with rent revenue reinvested back into the local communities.
Welcoming the investment in Cowdenbeath, Secretary of State for Scotland Douglas Alexander said
We are immensely proud of Scotland’s coalmining heritage. The UK Government’s partnership with the Coalfields Regeneration Trust develops new businesses, creates jobs, and generates revenue to support local communities, ensuring these communities are not just part of Scotland’s past, but will play a leading role in its future. The UK Government is backing them to achieve that.
Stephen Percy-Robb, Chief Executive of Fife Chamber of Commerce said
We strongly welcome this investment in Cowdenbeath and Fife’s wider coalfield communities, recognising both their proud industrial heritage and future potential.
Creating high-quality industrial space in former coalfields will help local businesses grow and ensure talent can stay and succeed within the area.
Fife Chamber of Commerce looks forward to working with partners to maximise the opportunities this brings for jobs, enterprise and long-term economic growth.
Welcoming the investment in Resolven and Seven Sisters, Secretary of State for Wales Jo Stevens said
As a result of this investment, people and businesses in former South Wales coalfield communities will receive greater access to the jobs and opportunities they deserve.
For too long, these communities have been left behind – with many people having been forced to leave their local areas to seek employment elsewhere.
The UK Government is acting to stop this cycle, by delivering jobs, prosperity, and growth right across Wales. We are backing our coalfield communities with the support they need, helping local businesses thrive, and ensuring our coalfield communities reap the benefit of a strengthened and fairer UK economy.
Dr Fiona Withey, COO, Chambers Wales South East South West and Mid, said
Chambers Wales SESWM fully supports this commitment to rebuilding prosperity where it matters most in our region. This investment is a powerful catalyst for renewal in Wales’ former coalfield communities.
By backing new industry, expanding businesses and local entrepreneurs, it will create jobs, attract further investment and unlock opportunities in areas long overdue for economic revival. Chambers Wales SESWM fully supports this commitment to rebuilding prosperity where it matters most.
Welcoming the investment in St Helen’s, Paul Cherpeau, CEO of Liverpool Chamber of Commerce, said
This is really encouraging news for the wider St Helens area and helps to reinforce confidence among local businesses about the economic growth potential of the plans for Parkside.
It also strengthens opportunities to drive investment, support innovation, and fast-track major property developments in the borough through the Liverpool City Region’s new Industrial Strategy Zone.
Given its proximity to major motorways and the existing manufacturing base, Newton le Willows is perfectly positioned to attract engineering and advanced manufacturing businesses, creating highly-skilled jobs and training opportunities, and boosting the local supply chain for generations to come.
The Growth Mission Fund, from which this investment comes, is focused on supporting projects that have been previously overlooked which contribute to local growth, create jobs, support the regeneration and maintenance of heritage and culture assets, or other important local policy objectives.
Almost three hundred areas across the country are also receiving up to £5.8 billion of Pride in Place funding over the next ten years, helping to revitalise local areas through building thriving places, strengthening communities and putting local neighbourhoods back in control of their own areas.
This includes St Helens, which will benefit from up to £40 million of flexible funding for Newton-le-Willows and the Town Centre East and Fingerpost neighbourhood. This allows the community to invest in things like youth clubs, libraries, community grocers, cultural venues, and health and wellbeing services.