Burnley in line for huge £23m 'levelling up' windfall to regenerate town
Burnley and Padiham could potentially be in for a huge £23m. "levelling up" windfall to support regeneration across the borough.
The town has been allocated £170,000 to work on bids for two investment cash pots – the Levelling Up Fund and the Community Renewal Fund.
Burnley Council, working with MP Antony Higginbotham and other stakeholders, will now be able to apply for this funding which if granted would see major investment in the area for a range of projects.
The Levelling Up Fund, which is worth up to £20m., is intended to support investment in places where it can make the biggest difference to everyday life, including former industrial areas like Burnley and Padiham.
It is shaped by local stakeholders who all work to create a bid for how the borough could be improved with the funding.
The Community Renewal Fund, worth up to £3m, forms part of the new UK Shared Prosperity Fund is intended to create opportunity across the UK in places most in need through investment in skills, enterprise and employment.
Burnley has been placed in Priority Group 1 for both schemes as part of Chancellor Rishi Sunak's Budget.
The £170,000, which has been made available through the budget, will enable Burnley Council to work with stakeholders in order to create robust, ambitious and high-quality bids for the funds.
Mr Higginbotham said he was delighted that his "mission to level-up Burnley and Padiham" was now being reflected in Government funding priorities.
“Since being elected as the Member of Parliament I’ve been pushing for the levelling up agenda to be brought to our area; regenerating both Burnley and Padiham’s town centres and creating a thriving local economy that people want to work, live and set-up business in.
"I’ve been banging the drum for over a year now and I’m delighted that this is now being reflected in Government funding priorities.
"Securing this level of investment through both the Levelling Up Fund and the Community Renewal Fund will bring major benefits to people and businesses in our borough and I’ll continue to do all that I can to make it a reality.
“I will never stop lobbying for the measures and investment we need in Burnley and Padiham to create the borough we want. I said I would level-up our area and that’s exactly what I’m fighting for."