Almost 500 new jobs could be created in the Ely area as a result of a £2.5 million funding agreement.
Lancaster Way Business Park, in Ely, and Littleport Eco Business Park, which is planned for land off the A10 Bypass, have secured a share of the mammoth pot of Greater Cambridge Greater Peterborough Enterprise Partnership (LEP) funding.
Grovemere Property Ltd will be using the money to help build nine new units for small and start-up businesses on the Lancaster Way Business Park. The scheme will create between 30 and 50 new jobs.
James Graven and Sons Ltd, the firm behind the Littleport Eco Business Park, will use the funds to develop new office accommodation, which the company says has the potential to create 395 new jobs in total.
Harvey Bibby, marketing and development director at Grovemere Property Ltd, said: “We are extremely pleased to have secured funding from the LEP to help facilitate our small business unit scheme at Lancaster Way Business Park.
“The funding will mean that we can speculatively develop much needed start-up/incubator business accommodation for people based in the local area. The funding means the scheme can start immediately with practical completion of the buildings intended for 2015 and the creation of up to 50 jobs. We are looking forward to taking the project forward and getting construction started as soon as possible.”
Jonathan James, director of James Graven and Sons Ltd, said: “We are delighted to have secured funding from the LEP to help support our Littleport Eco Business Park. This funding will mean that the development of new eco-friendly office accommodation next to the A10 at Littleport can commence this summer and that this potentially will create 395 new jobs in total.”
The Growing Places Fund was originally allocated to the LEP in late 2011, and since then it has supported a range of projects across the region designed to unlock stalled projects and initiatives that could help support the creation of new jobs and economic growth.
Visit www.gcgp.co.uk for more information.