The Project
Supporting the creation of local jobs
This project will unlock a key strategic employment site at the gateway to Torquay that will create jobs and lever in a further £5.5M investment.
This project will fund necessary infrastructure on a site that suffers serious engineering constraints making it unviable for development. Torbay Council has invested £3M to acquire the site and Getting Building Fund (GBF) funding will enable the necessary work to bring forward employment space, modern business premises, jobs and economic growth.
Benefits
£2M from the GBF will unlock the site enabling:
- Accelerated investment and expansion from a bulky goods retailer creating 18 direct jobs and generating £7.2M for the local economy
- Accelerate negotiations with a foreign owned medical technology company looking to locate their UK headquarters on this site creating up to 70 new jobs (many high value) and 21 indirect jobs over 2 phases of investment resulting is a further £5.5M investment
- Make viable a further 1.25 ha of employment space to be developed accommodating up to 2,017 sqm and creating up to 34.3 new jobs and 10.3 indirect jobs
This funding is essential to unlocking the site, enabling economic growth and create jobs, many of which will be high value.
