Gateshead Council has submitted a bid for £20m from the government’s latest round of the levelling up fund. The council hopes any cash received will add value to the existing Gateshead Quays development project.
Part of the Quays development includes the Sage project, valued at £300m and estimated to add around £70m to the local economy and create 2,000 jobs. In total the government is offering local authorities across the UK a portion of £4.2b in levelling up funds.
According to the council: “LUF investment will support Net Zero carbon ambitions and digital infrastructure development, which are critical to delivering competitive business and leisure offers that enable the North East and UK to flourish on the world stage.
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“The plans include the supply of heat from mine water for the neighbouring district energy network and solar power; a local SME visitor showcase; and trialling innovative digital visitor experiences.
The bid received cross party support in Gateshead with both the Labour party and the Liberal Democrats hopeful of future development and economic growth.
Labour leader of Gateshead council, Martin Gannon, said: “We are delighted to submit our bid to central government today, we are confident that we’ve gone above and beyond what is required to secure funding and I hope that Greg Clark, the new Secretary of State for Levelling Up, understands the benefits of this critical government investment in the region.
“The bid is so much more than the bricks and mortar of the development, it brings with it an opportunity to provide a place that our community can be proud of, and local business can flourish and be visible on an international stage.
“Through providing opportunities for growth for our businesses we create more sustainable jobs that our residents will be proud of. Not only does it bring benefits to our residents and the North East but The Sage will also be a tangible asset that central government can showcase as a direct result of the funding.”
Leader of the Gateshead Liberal Democrats said: “We would welcome the investment and the successful completion of this application. The quays are quite vital to the building of a tourism economy for Gateshead and for the North East and the sooner we get to completing the better.
“Both sides of the council have supported the development of the quays since the Baltic was put in. To have a tourism economy you have got to have attractions that bring people to the area.
“It means we can host big gatherings. Some of these bigger conferences can host thousands of people. That is thousands of people spending money in our local economy”.
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