Charnwood Borough Council has welcomed the announcement of a new Enterprise Zone being created which could bring over 21,000 new jobs and £123 million into the area over the next 25 years.
The Enterprise Zone, which will include two sites in Loughborough and one in Leicester, was confirmed by Government on Monday (February 13).
Each of the three sites will offer specialist research and development facilities and supporting new and growing businesses to bring their innovative ideas and products to market.
Cllr David Slater, Leader of Charnwood Borough Council, said: “The Council is delighted that this ambitious, bold and exciting plan is moving forward at last.
“We have been fully behind the Science and Enterprise Park and Charnwood Campus from the start and we now look forward to seeing them develop. They will not only bring jobs and boost the local economy, but they will also help make Charnwood an even brighter prospect for investors.
“We have been pressing for the Enterprise Zone for many years and demonstrated our commitment to it by including sites for the Science and Enterprise Park and Charnwood Campus in our Core Strategy.
“We want a strong and lasting economy in Charnwood so we can help create wealth and a better standard of living for everyone in the borough.”
Cllr Eric Vardy, Lead Member for Planning and Regeneration at Charnwood Borough Council, said: “This is an extremely exciting development for Charnwood as it helps lay the foundations for a prosperous future.
“We need to put steps in place today to make sure there are jobs and bright prospects for future generations and the Enterprise Zone will certainly do that.
“We have been very active in supporting this bid as the local planning authority for two of these sites and I am pleased that we have finally received the green light.”
The Loughborough University Science and Enterprise Park (LUSEP) will focus on advanced engineering and manufacturing, energy and low carbon and the Charnwood Campus has specialisms in the life sciences, pharmaceutical and bio-medical sectors.
Leicester Waterside has a focus on space technologies, research and advanced manufacturing and also sits adjacent to location of the National Space Park development proposed by the University of Leicester.
The borough council is part of a partnership which has led the bid for the zone and includes the Leicester and Leicestershire Enterprise Partnership (LLEP), Loughborough University, Leicester City Council, University of Leicester, Leicestershire County Council, and Charnwood Campus in Bishop Meadow Road, Loughborough.
This is the second Enterprise Zone in the LLEP area and follows the successful automotive technology Enterprise Zone at MIRA Technology Park near Hinckley.