Pro-Vice Chancellor for Enterprise part of Town Deal Board proposing £25m bid to transform Loughborough
A new project developed by local business and community leaders aims to transform Loughborough’s economic growth by securing up to £25m of government funding.
The group includes Loughborough University’s Pro-Vice Chancellor for Enterprise, Tracy Bhamra, and Senior Lecturer Andy Reed from the Institute for Sport Business at the London campus.
The Loughborough Town Deal Board will manage the development of a town investment plan and submission of bids to the Government’s Town Deal initiative, which outlines a proposal to regenerate town centres, improve infrastructure and boost businesses with a funding pot of £3.6 billion.
The Loughborough Town Deal Board is being co-chaired by Dr Nik Kotecha OBE, chief executive of Morningside Pharmaceuticals in Loughborough, and leader of Charnwood Borough Council Cllr Jonathan Morgan.
The Board will coordinate the development of a Town Investment Plan to provide a vision for building on the town’s unique strengths to transform its economic growth prospects.
Cllr Jonathan Morgan said: “The Town Deal is a huge opportunity to bring a significant amount of investment to Loughborough and I am delighted the Board has met for the first time.
“There is a tremendous amount of positivity and enthusiasm about the potential of the Town Deal fund and I look forward to seeing ideas develop. The Board members all agreed that collaboration and involving all sectors of the community will be a critical component of success.
“The first meeting was very much about making sure we have the right structures in place so we can move forward at pace and secure the best Town Deal for Loughborough.”
Professor Tracy Bhamra added: “This is a fantastic opportunity for the University to work as part of the Town Deal Board and help ensure that Loughborough’s future is boosted through government investment. I am looking forward to helping shape the vision and bring the University’s perspective along with our experience in business engagement and innovation to the project.”