£2.5 million will help build on town’s sporting reputation

"I am pleased that this project will support entrepreneurs and the growth of new businesses."

The funding has been awarded to Loughborough University’s Healthy and Innovative Loughborough project which will create jobs, help new businesses and improve people’s health.

The university project will support the expansion of SportPark, which is home to a number of leading sporting organisations, and also help new businesses get off the ground and support entrepreneurs. 

The Loughborough Town Deal Board is co-chaired by Cllr Jonathan Morgan, Leader of Charnwood Borough Council, and Dr Nik Kotecha OBE, founder of Morningside Pharmaceuticals Ltd.

Cllr Morgan said: “We are delighted to confirm this latest funding award for a project that will build on Loughborough’s global reputation for sporting excellence.

“The Healthy and Innovative Loughborough project has many benefits. Not only will it encourage more sporting organisations to set up home in the town but it will also new support businesses and improve people’s health.

“The Town Deal is delivering real improvements and significant investment into Loughborough which will benefit future generations.”

This is one of 11 projects Loughborough Town Deal is supporting after securing £16.9 million of Government funding.

Dr Nik Kotecha OBE said: “The Town Deal investment means we can help SportPark expand, bring more sporting organisations to the town and continue to grow Loughborough’s reputation for sport.

“As a local businessman, I am also pleased that this project will support entrepreneurs and the growth of new businesses. I know first-hand how difficult it can be to start a new business so I am pleased this project can offer them support as they are crucial to our local economy and to the creation of new jobs.”

So far, Loughborough Town Deal has invested in:

• £2.6 million to create a Digital Skills Hub at Loughborough College
• £900,000 to create a Careers and Enterprise Hub in Loughborough's town centre
• £835,000 to help save Taylor’s Bell Foundry, the last major bell foundry in the UK
• £885,000 to fund towpath improvements alongside the River Soar
• £1.6 million to a creative arts hub at the Generator.
• £1.7 million to support the Bedford Square Gateway Project which has regenerated part of the town centre