A MAJOR regeneration programme in Pendle has been given the thumbs-up after it was confirmed that £6.25 million of government cash is on its way to the borough.
Members of Pendle Partnership's delivery group were given the go-ahead to implement the programme this week.
The Pendle Economic Regeneration Programme (PERP) will receive £3m from the North West Development Agency (NWDA) during the next four years and this cash will be used to attract over £3.25m of additional investment, including European funding, cash from the private sector and other public bodies.
Pendle Partnership chairman, Dennis Mendoros OBE, said: "This is a welcome boost for Pendle. The £3m is vital to help us create and support jobs in the area. Overall it will bring £6.25m of investment in to the borough. Once again Pendle Partnership has succeeded in bringing new money in to Pendle. Our challenge now is to make the money make a difference."
Some of the PERP money has already been allocated to help improve business in Brierfield town centre.
Pedestrian improvements will also be funded to make it easier and safer to use the town
for shopping and promotional events such as Brierfield Live will also be funded in the hope of attracting people into the town.
The Northwest Development Agency has also agreed that some of the cash can be used to support local businesses who are expanding and creating new jobs in the area.
It may be made available to help extend Broadband internet connections to local companies, for micro business support and to provide Information Communication Technology business support.
The purpose of the Pendle Economic Regeneration Programme is to help diversify the local economy and reduce its reliance on declining industries.
Key objectives include providing 3,800 square metres of new commercial and industrial floorspace, increasing the effective use of ICT by firms, encouraging higher value and skilled jobs in the area, creating employment in the financial and professional sectors, reducing unemployment in Pendle's least affluent wards and increasing business competitiveness.
It also aims to support the aerospace and furniture industries, which have potential for growth and job creation.
The cash will be targeted on Brierfield and the wards of Whitefield and Bradley in Nelson but projects outside these wards may be eligible for funding if they can demonstrate that they will benefit a large number of residents in the target area.
Bryan Gray, NWDA chairman, said: "We are delighted to be supporting such an excellent scheme which will provide so many benefits for the Pendle community. The funding provided will ensure a long-term future for the area, bringing about economic regeneration and new employment opportunities to the people of Pendle.
"This kind of investment is an important part of our vision for the region, and will help build a powerful economy for East Lancashire and the North West."
The cash had been awarded, in principle, in February 2002, but the partnership was not able to spend it until detailed plans had been signed off by the NWDA.
The Northwest Development Agency has now agreed the annual plan and confirmation has been received for the programme to proceed with effect from July 1, 2002.
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