Funding. News - 08 January 2021

Major boost for the region’s high streets

In a major boost to the region’s high streets a total of nearly £50 million will be invested into five areas from the Government’s Future High Streets Fund, in an announcement made by Communities Secretary Rt Hon Robert Jenrick MP and The Chancellor of the Exchequer, Rishi Sunak.

The Future High Street Fund is designed to help renew and reshape town centres and high streets across the country with the aims of driving growth, ensuring future sustainability, and improving general visitor experience. A total of £830 million from the Future High Streets Fund will be invested in 72 areas across England.

The first round of successful towns to receive provisional funding include:

  • Derby City Centre, St Peters Cross – £15,034,398
  • Sutton-in-Ashfield (Nottinghamshire) – £6,279,872
  • Nottingham City Centre, West End Point – £12,523,981
  • Buxton, High Peak – £6,608,223
  • Heanor, Amber Valley – £8,592,837

The funding will help these areas transform their high streets into vibrant hubs for future generations and to protect and create thousands of jobs.

In a key milestone for the government’s levelling up agenda, the investments will help areas to recover from the pandemic while also driving long term growth.

It will enable the delivery of ambitious regeneration plans, drawn up by places, and fund new local projects such as improvements to transport infrastructure, new homes and the transformation of underused spaces.

D2N2 CEO, Sajeeda Rose said :

“The last few months have been extremely challenging for us all and this announcement will provide a much-needed boost for our high streets as we start to recover and rebuild our economy.

Across the D2N2 region, our partners, businesses and people have had to adapt very quickly to meet a range of new challenges. We will continue to work in partnership across the region to deliver a healthy, prosperous and thriving economy for all.”

Building back our high streets

Communities Secretary Rt Hon Robert Jenrick MP said:

“The year ahead will be a big one for the high street as it seeks to recover, adapt and evolve as a result of the pandemic. Today’s £830 million investment from the Future High Streets Fund is one of many ways the government is working to help our much-loved town centres get through this and prosper into the future.

The role of high street has always evolved. We want to support that change and make sure that they are the beating heart of their local community – with high quality housing and leisure in addition to shops and restaurants.”

This investment will help us build back better and make town centres a more attractive place to live, work and visit.

The Chancellor of the Exchequer, Rishi Sunak, said:

“We are supporting our high streets to get through this pandemic through business grants, paying people’s wages and tax deferrals.

The Future High Streets Fund will help areas bounce back through regeneration projects that level up opportunities and create jobs right across the country.”

The Future High Streets Fund was launched in December 2018 and is a key part of the government’s plan to renew and reshape town centres – making them a more attractive place to live, work and visit. £107 million of the Future High Streets Fund has been allocated to DCMS to support the regeneration of heritage high streets.

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