Blackpool Council in the UK is seeking £28.8m (US$38.1m) to deliver essential infrastructure and associated vital support for the Enterprise Zone Masterplan.
The council will present its report to the Blackpool Executive Committee on June 18 in application for the initial three-year allocation of capital funding. The council will use its ability to borrow at preferential rates.
A positive decision on the funding will be key to the future success of the Enterprise Zone and is essential to help secure early investment in the site and to begin development.
The masterplan, approved in February 2018, sets out the full potential of the 25-year lifespan of Blackpool Airport’s Enterprise Zone status. The plan includes 270,000m2 of new space, 5,000 new jobs and over 280 businesses on-site.
The funding sought on June 18 would fund phase one of the project, facilitating a new eastern access road and gateway entrance, phased refurbishment and redevelopment of a former bomber factory, and new airport hangars and navigational aids, among other elements.
Councillor Mark Smith, cabinet member for regeneration, enterprise and economic development, said, “The Enterprise Zone has the potential to dramatically change the economic landscape of the Fylde Coast and Blackpool Council is committed to delivering a premier business location within the North West that will sustain long-term economic growth and investment.
“The goal of the Enterprise Zone is to be the driving force of the local economy, unlocking key development sites, consolidating and building new infrastructure, attracting new business, investment and jobs, and providing a skilled, highly trained future workforce that the Fylde Coast can be proud of.
“Blackpool Council is sending a strong signal by its firm commitment to prudential borrowing to deliver and secure a sound economic future for the citizens of the Fylde Coast.”