Business in Pendle and beyond is set to be boosted with confirmation of a multi-million pound investment at Lomeshaye Industrial Estate.
And the news has been welcomed as proving that Pendle is “open for business”.
The £4m. investment is part of the £68m. Growth Deal Announcement for Lancashire which has identified Lomeshaye as a key part of the Burnley and Pendle Growth Corridor to secure, attract, and create more employment opportunities in Pendle.
The Lancashire Enterprise Partnership negotiated the deal with the Government.
Coun. Mohammed Iqbal, leader of Pendle Council and portfolio holder for Economic Development, said: “We’ve been working hard for a number of years to extend the successful business park to create jobs, support businesses and encourage growth.
“The latest award of the Local Growth Funding (Growth Deal) awarded to the LEP means this can now become a reality.
It’s a great outcome for Pendle’s ambitions for growth.Pendle Council leader Coun. Mohammed Iqbal
“Our Jobs and Growth Strategy shows how our growth plans meet regional and national objectives. This gives us the best opportunity to access any available funding to stimulate further growth.
“We put forward our case for expanding Lomeshaye Industrial Estate and, acknowledging the lobbying done by Pendle’s MP Andrew Stephenson, I’m delighted this latest investment supports our aims.
“It’s a great outcome for Pendle’s ambitions for growth.”
The investment will see the extension of the existing Lomeshaye Industrial Estate on land between the current site and the by-pass, with the necessary land acquisition and infrastructure to support the expansion.
The extension alone could accommodate up to 1,500 jobs and provide additional sites to help us attract new businesses to the area and encourage local companies to expand.
Lomeshaye Industrial Estate is currently home to 118 businesses and employs more than 3,700 people.
The £12m. Burnley-Pendle Growth Corridor Improvements Scheme was funded by a previous Growth Deal.
Work has created additional capacity on the M65 industrial corridor supporting the future expansion of Lomeshaye Industrial Estate.
Coun. Iqbal also urged the Government to halt its ongoing cuts to Pendle Council’s budget.
He added: “I would ask that the Government gives Pendle a fair deal in terms of funding and stops the cuts being imposed on us.”
Pendle MP Andrew Stephenson MP said: “I’m delighted the Government has once again made a significant investment into Pendle.
“Following the multi-million pound funding package for Brierfield Mills and more recently money for Brownfield housing development, I’m delighted to have secured this further investment.
“With up to £4m. being invested we will see a huge employment boost for our area and I’m already in discussions with companies looking to invest.”