An investment of £20m over four years will be made by Lincolnshire County Council to fund business growth projects in the county.
The council’s executive have agreed to use the council’s own money for economic development to encourage and support businesses to start up, grow and re-locate to the county.
The money will be used to expand business parks, create new office spaces and to build a new facility supporting manufacturing companies to get the skills and expertise they need to thrive.
Cllr Colin Davie, executive councillor for economy at Lincolnshire County Council, said: “We know that in many parts of the county there is a limited amount of suitable serviced land for businesses to grow or re-locate to. This investment means we can keep businesses in the county and provide around 3000 new high quality jobs.
“It also means that, with the devolution investment in Sleaford Moor Business Park, there will be significant investment in business infrastructure in every district of the county in the coming years.”
The decision is based on the acknowledgement that the Lincolnshire economy has several important sectors providing value locally whilst contributing to national propsperity. These include food manufacturing, defence, and advanced manufacturing. Each of
these sectors presents significant economic opportunity, but potential growth is
constrained by the availability of suitable sites.
Similarly, small businesses in some parts of the county say their growth is constrained by the availability of sites or business units that they can grow into.
