Norfolk and Suffolk economic development leaders say they are "extremely proud" of a host of key building projects across the region which have got off the ground thanks to support from the Growing Places Fund.
So far grants and loans allocated through the scheme have reached £40m - helping to draw in around £300m in match-funding from a variety of sources, says New Anglia Local Enterprise Partnership (LEP).
Among recent success stories is Southwold Community Enterprise Hub - created in the town's old cottage hospital - which attracted more than £1m in funding after the LEP put up £250k.
A visitor centre at Carlton Marshes Reserve near Lowestoft was opened in May 2021 by Princess Anne. The LEP helped "prime fund" a £10m fundraising campaign which was given a major boost by a hefty £4.2m grant from the National Lottery Heritage Fund. An additional £1m raised by local people and businesses, including £250k from the LEP’s Growing Places Fund.
The LEP fund also helped charity hub Centre 81 move to new premises in Great Yarmouth while Saxmundham Art Station was boosted by a £50k LEP grant.
The Food Museum in Stowmarket underwent a major rebrand and launched a refurbished museum building with enhanced facilities for exhibitions and events - helped by LEP funding of £100k which was matched by the Arts Council.
Gainsborough’s House Museum is on the verge of completing a highly innovative new museum, exhibition and events building in Sudbury - which is expected to provide a major regional draw with its exhibition spaces. The opening is planned for 2022.
Work is under way at St Peter's Church in Sudbury's market square in a project is led by the Churches Conservation Trust. The building is being converted into a new community venue with the help of funding from the National Lottery Heritage Fund, Babergh District Council and the LEP.
Iain Dunnett, senior coordinator of the Growing Places Fund said: “We are extremely proud of what this scheme has achieved across our region, from helping to transform areas like Ipswich’s Waterfront to supporting the development of attractions such as the Food Museum in Stowmarket, community facilities like The Nest in Norwich, and the restoration of Norwich Castle Keep. In many cases, these are projects that would have stalled or not got off the ground without loan or grant funding.
“The overall commitment of funds from the Growing Places Fund now stands at £40m, including the provision of both loans and grants, and it has attracted more than £300m in match funding from the private and public sector.
"The availability of loan finance has been received very positively by the business community, and the loans have supported many business developments and helped to attract and secure investment from other financial sources.
“The pandemic slowed the development of many capital projects funded by the Growing Places Fund, but the pace of work has picked up in 2022 and we are seeing the completion of some amazing projects.”
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