Hereford could benefit from £25m government investment

Hereford could soon benefit from a £25m government investment to regenerate the city.

The Government announced a £3.6bn Towns Fund aimed at building prosperous futures for communities across England in July.

Hereford is one of the 100 places invited to develop proposals for a new generation of multi-million-pound Town Deals which have today been announced by Local Government Secretary Robert Jenrick.

The towns eligible for support from the £3.6bn Towns Fund include places with proud industrial and economic heritage but have not always benefitted from economic growth in the same way as more prosperous areas.

Communities, businesses and local leaders will now join forces to draw up ambitious plans to transform their town’s economic growth prospects with a focus on improved transport, broadband connectivity, skills and culture.

Hereford and South Herefordshire MP Jesse Norman welcomed the announcement of potential investment in the county.

“Getting the amazing news that we have been successful in our Towns Fund bid for Hereford,” he said.

“Potentially £20m to 25m in new capital to connect social, cultural and economic infrastructure.

“It could be transformative for city and county.”

Local Government Secretary Robert Jenrick said: Ensuring that prosperity and opportunities are available to everyone in this country, not just those in London or our biggest cities, is at the heart of the mission of this government.

“We want to level-up our great towns, raising living standards and ensuring they can thrive with transformative investment in transport, technology, skills and culture.

“I will now work with local people from the 100 communities announced today to agree proposals to invest up to £25 million in each place.

“I hope these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with a new optimism.”

Today’s announcement follows the Prime Minister’s confirmation in July of an additional £1.325bn to support towns as part of a renewed vision to level up our regions, which took the total value of the Towns Fund to £3.6 billion.

The government will soon publish a prospectus to guide towns through the process and set eligibility criteria for funding.

Once approved, new Town Deals will improve connectivity, provide vital social and cultural infrastructure and boost growth – with communities having a say on how the money is spent. Decisions on funding any proposals will be made in due course.

The Town Deals Fund builds directly on the government’s commitment to decentralising funding and decisions away from Whitehall and investing in the growth of local economies and devolving powers through ambitious city and growth Deals, providing more than £9 billion of funding to Local Enterprise Partnerships and introducing 8 Metro Mayors in England.