More than 500 new jobs could be created in Pendle with the news that a prominent industrial estate has received a twin cash boost to expand.
Pendle Borough Council has agreed to inject £1.9m. to extend the Lomeshaye Industrial Estate in Brierfield while Lancashire County Council’s Cabinet has agreed £1.5m. towards the scheme.
Phase one of the proposed extension would unlock 3.53 hectares of land, creating more than 500 full-time-equivalent sustainable jobs, mainly in the manufacturing sector.
Leader of Pendle Council, Coun. Mohammed Iqbal, said: “This is great news for phase one of the Lomeshaye extension because it will give Pendle businesses a place to expand.
“By extending this strategic site along the M65 we’ll also have the capacity to attract new businesses to our area, creating hundreds of jobs.
“Pendle Council will be providing a cash injection of £1.9m. for this key employment site. Our shared ambitions to expand Lomeshaye are moving forward.”
A later phase of the development is expected to generate significantly more new jobs.
Lomeshaye is the largest employment site in Pendle and one of the largest in East Lancashire.
Pendle Borough Council and the county council are working in partnership to create the infrastructure required to prepare the site for future development.
County Coun. Michael Green, Cabinet member for economic development, environment and planning, said: “These plans are an excellent opportunity to make use of the employment potential of Lomeshaye to create new jobs for the surrounding community.
“Pendle is home to the largest concentration of advanced manufacturing employment in the country, and Lomeshaye is located at the heart of the Burnley-Pendle section of the M65 growth corridor.
“This extension could provide additional space for existing companies to expand, or attract new companies onto this popular industrial estate.
“The county council is always looking to encourage developments of this type, where we can, because they create business growth, bring money into the local economy and create many new job opportunities for local people.”
The extension of Lomeshaye complements recent economic growth initiatives made in the area, including the Lancashire Enterprise Partnership’s £12m. Burnley-Pendle Growth Deal scheme and the £32m redevelopment of Brierfield Mill.