Five hundred new jobs could be in the pipeline if an £8 million funding bid for an Inspiring Eden enterprise hub near Penrith is successful.
Eden Council is seeking support from the Government’s levelling up fund to build a state-of-the-art modern enterprise facility on land near Stoneybeck roundabout, north of the town on the A6.
A mix of office, studio, workshop and collaborative spaces would be provided as part of the development which, it is hoped, will generate up to an estimated 80 new businesses and £20m of economic benefits in the first 10 years of operation.
A report which went to the district council’s cabinet on Monday said there would be a “particular focus on creative, arts, and knowledge-based businesses, all driving rural excellence across Eden and the wider economy”.
There is also set to be a “living lab” live demonstration project as well as a collaboration space for academia and business to unlock cross-over potential in conjunction with Lancaster University, the University of Cumbria and other academic research organisations.
Discussions with land owner Rayner Rowen Construction are said to be well advanced and the firm is committed to providing the two acres required for the development of the enterprise hub. Go-ahead was given at a meeting of the district’s cabinet for a formal bid to be submitted to the Government on Wednesday.
The total value of the bid is £8 million, with £7.2m sought from the £4.8 billion Levelling Up fund, with the remainder to be met by the landowner and the existing Inspiring Eden budget.
If all goes to plan, the hub could be open for business by December 2024.
Neil Hudson, MP for Penrith and the Border, said he worked closely with Eden District Council and local stakeholders in the bidding process, and as the local MP has submitted formal priority support for the bid.
He added: “This is a really exciting project for everyone across the constituency and beyond – a state of the art hub will drive rural excellence across the region, allowing businesses to thrive and putting Penrith on the map for enterprise. Making sure the Government’s keystone Levelling Up agenda works for rural communities such as ours has been one of my main priorities since being elected – that’s why I’ve been so pleased to work with councillors and local stakeholders on our powerful application.”
“The potential benefits of this project are as wide-ranging as they are valuable. From providing opportunities for our talented young folk to develop their careers in the local area to pulling in capital by supporting rural entrepreneurs, our future will look all the brighter if we can secure this mammoth investment from the Government’s Levelling Up Fund.
“I think it’s so important to work collegiately with people from across the political divide in order to achieve real change for rural places like Eden. That’s why I’ve relished the chance to collaborate on the project with Eden District Council to create a long-lasting enterprise hub that will benefit people across the region for years to come.
“I’ve stood up in the Commons again and again to champion rural Levelling Up so I hope the Government has taken note and will see, as I do, the inspirational effect this project will have on Eden. I will keep banging the drum on this, and am urging the Government to support our bid.”
