Thornaby set for £23.9million from Government's Towns Fund investment
Thornaby is set to benefit from £23.9million from the Government's Towns Fund to boost regeneration as part of Stockton-on-Tees Borough Council's ongoing commitment to the development of its six town centres.
Heads of terms are now to be agreed between Government representatives and the Town Deal Board after the first-stage application was submitted to enable new development and investment across Thornaby. The Town Deal Board is made up of a range of public and private sector bodies who reflect the diversity of the town and the surrounding area.
Thornaby was announced as one of 45 Town Deals in the Chancellor's Budget on Wednesday (3 March), worth over £1billion in total.
The Town Deal Board have been working on the Town Investment Plan for the last year and following agreement on heads of terms, will proceed to develop a business case addressing the four key priorities:
- Tackle vacant properties in the town centre to enable new development and change of use
- Support to enhance the delivery of skills training for Thornaby residents
- New cycle and footpath infrastructure linking key assets across Thornaby
- Seek opportunities to address areas of poor-quality housing in North Thornaby
Councillor Nigel Cooke, Cabinet Member for Regeneration and Housing at Stockton-on-Tees Borough Council, said: "I am pleased to confirm that we have received positive feedback from Government in securing £23.9million of funding to give Thornaby the facilities it needs to be able to thrive in the future.
"We are currently on a journey to make sure our six town centres are able to adapt to changing habits and Thornaby is no different. The funding will allow us to make significant changes to secure its long-term popularity in the future.
"These priorities, which we will address in our business case will help to form transformative projects that respond to the public consultation last year and the Town Deal Board will work hard to deliver the changes that the people of Thornaby want to see."
Mark White OBE DL, Town Deal Board Chair and Chair of Governors, Education Training Collective, said: "To receive such positive news in the current circumstances is confirmation that the application that the Town Deal Board put forward was the right one for Thornaby and I am pleased to see the hard work of all its members pay off.
"I look forward to working with the Board's wide range of members on a business case that provides long lasting benefits to key parts of the town and secures its future success."
Thornaby is one of 100 towns across the country which was invited to develop proposals for a Town Deal in 2019 as part of the Government's £3.5 billion Towns Fund.
The funding provided is intended to help to increase economic growth, with a focus on regeneration, improved transport, better broadband connectivity, skills and culture.
In early 2020, Stockton-on-Tees Borough Council began a consultation on future developments of the town centres and high streets, pledging to lead a fightback across the Borough's six town centres and help them thrive.
More information on the scheme can be found in the Stockton Borough Council.