Work is expected to start on site in early 2020 after plans for a major new business park in Skegness were officially revealed by councillor Colin Davie.
The project will kick-start the development of the 31-hectare Greenfield site and will be carried out in phases. It will also create much-needed job opportunities for local people, Lincolnshire County Council said.
The estimated cost of the first phase of the project is £2.39 million, with £1.279 million coming from the Greater Lincolnshire Local Enterprise Partnership’s Single Local Growth Fund. The remaining funding will be provided by the county council.
The first phase will focus on a five-hectare area of land off Hassall Road. This will see the creation of seven small business units, an extension to the existing road and a new road connecting through to Holly Road.
Councillor Colin Davie, Executive Member for Economic Development at the county council, revealed the plans at the UK’s leading property event MIPIM UK in London.
He said: “This is an important step towards boosting the future prosperity of our seaside towns and attracting greater investment into the coastal economy.
“The business park will give local firms the room they need to grow, and will be a place they can thrive and succeed. It will play an important role in Skegness’s growth in the coming years, bringing new businesses to the area and creating much-needed job opportunities for local people.
“I’m delighted that we’ve had the opportunity to share our plans at MIPIM UK and let investors from across the world know that Lincolnshire is open for business.”
Boston and Skegness MP Matt Warman added: “The Lincolnshire coast has huge potential for growth, and the announcement is another example of government, council and the LEP working together to deliver real improvements.
“It follows the news of the Stronger Towns Fund’s £25m boost for Skegness, heralding an exciting future for residents, businesses and tourists alike.”
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