Now, NEL plans to invest a further £7 million plus in 2008/09. Already, the cash investment for the last financial year, from April 2007 to March 2008, has drawn in at least an additional contribution of £76 million into the economy of Northamptonshire from partners.
The £13.4 million boost to Northamptonshire’s economy has helped projects which support the sustainable economic growth of the county.
NEL acts as a single voice for the county, focusing on economic development and business investment in Northamptonshire, along with destination management and promotion. It is the result of a dynamic merger of five established organisations in the county: Northamptonshire Partnership, Invest Northamptonshire, Explore Northamptonshire, The Northamptonshire Observatory and the Economic Development Unit of the County Council.
Paul Southworth, Chairman of NEL: said: “We are delighted that we have been able to put so much money into local economic projects, especially as it is our first year of this exciting partnership.
“We have helped several projects locally to get off the ground, and by working more closely together and sharing our resources, we are well placed to build on the achievements that each of us has already made separately. Our aim for the coming year is to continue to build the profile of Northamptonshire as a place to live, work, invest, learn and visit and drive it forward as a thriving and exciting growth area, ripe for development.”
Among the projects NEL have supported have been the Moat Lane regeneration project in Towcester, where £620,000 was made available towards a £9 million re-development scheme; the regeneration of Northampton’s historic market square, with a £100,000 injection from NEL to reverse the decline of the market and find ways to bring new life to the square and main shopping street, and a £165,000 investment by NEL into the Fishmarket Gallery and Arts Centre.
In addition, the Hope Project to establish a Community Facility in a deprived area of Wellingborough benefited from an NEL contribution of £126,000 towards a new community facility, known as The Well.
The Well is now up and running and boasts a community café, youth drop-in centre, pre-school and counselling rooms, employing 11 people and providing opportunities for local volunteers. NEL is also currently exploring with the Hope Project the possibilities of creating a local Skills Centre in the underused Community Centre adjacent to The Well to provide further opportunities for local residents.
All of NEL’s investments are geared to achieve three strategic objectives, Raising Productivity to enable businesses and people to become more competitive and Innovative; Ensuring Sustainability by investing in and protecting natural resources, environment and other assets such as Infrastructure; and Achieving Equality, through helping all people to realise their full potential and work effectively together to enrich their lives and their communities.
Ends
Notes to editors
Media contact:
Mary Ann Day/Siobhan Griffiths, Kinross+Render PR
020 7592 3100 or email explorenorthamptonshire@kinrossrender.com
Northamptonshire Enterprise Limited (NEL) is an organisation representing 'one voice' for Northamptonshire with regard to Economic Development, Inward Investment, Destination Management and Tourism. It is made of the five established organisations: Northamptonshire Partnership, Invest Northamptonshire, Explore Northamptonshire, The Northamptonshire Observatory and the Economic Development Unit of the County Council.
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Last updated : 14-May-08
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