Plans to bring jobs and employment to Haverhill Research Park and Enterprise Zone in Haverhill, Suffolk, with the development of a new innovation centre has been given a welcome multi-million £6.2m cash boost.
Finance has been provided jointly through a £3.5m loan by West Suffolk Council and £2.7m of Local Growth Fund investment from the Cambridgeshire and Peterborough Combined Authority, for the EpiCentre project at the park.
The funding will unlock development on the enterprise zone of the 30,000 sq ft 4-storey building that was given planning consent in May this year with construction expected to start in October. The EpiCentre building on the gateway site is directly adjacent to the ‘Spirit of Enterprise’ roundabout at the entrance to Haverhill and will help to attract further commercial investment and to support the creation of jobs for the area.
West Suffolk is part of the nationally important Cambridge-Sub region and as such a driver of the UK economy. Haverhill is an important town for West Suffolk with plans for 4,000 new houses and continues to play a significant contribution to the wider Cambridgeshire economy. Haverhill Research Park is one of 5 sites under the Cambridge Compass Enterprise Zone programme.
Encouraging well managed housing growth with local jobs, supporting innovation and inspiring and supporting start-ups is an integral to good growth and the aims of both West Suffolk Council and the Cambridgeshire & Peterborough Combined Authority.
One of the reasons the new West Suffolk Council was created was to work better with regional and national partners on projects and funding while being small enough to work on tailored initiatives with our local communities.
West Suffolk Council Leader, Councillor John Griffiths, said:
“This is part of West Suffolk Council’s ambition and drive to attract jobs and economic opportunities to our area and further ensure our future prosperity. By working with the developer and partners, across borders, we have been able to bring millions of pounds of investment to Haverhill, an economic boost for our residents and businesses together with an income to support Council services. One of the reasons for creating the new West Suffolk Council was to be better able to attract external funding while still being the right size to work with our local communities on tailored initiatives and this is an excellent example.
“Haverhill is a growing town full of opportunities and potential. This is something recognised by the Cambridgeshire and Peterborough Combined Authority Business Board who see this as an important initiative for not only Haverhill but the wider area and economy. I would like to thank the members of the Business Board, the Mayor and the Combined Authority for sharing this vision, and the local growth funding, and look forward to even closer working.”
Jaynic’s Managing Director, Nic Rumsey said:
‘We are delighted that we will now be able to deliver the long held ambition of a landmark Innovation / Business Centre at Haverhill’s gateway. Without the financial assistance from the Combined Authority’s Business Board and the Council it wouldn’t have been possible. We expect to start construction early October and to be open for business in September 2020.”