More than £7 million has been allocated to the Inspiring Eden Enterprise Hub project, near Penrith, which supporters had feared was dead in the water.
An application for funding for the enterprise hub, to be built on land at Stoneybeck Roundabout, was submitted by the former Eden District Council to the Government’s Levelling Up Fund in 2022, but failed to make the cut.
A mix of office, studio, workshop and collaborative spaces was proposed — supporting an estimated 740 businesses both directly within the new hub and in the wider district. It was also estimated that 655 jobs would be generated along with £26.2m in additional economic value over a 10-year period.
But on Wednesday, as part of Chancellor Jeremy Hunt’s Autumn Statement, it was announced that the Government was going to proceed with over £50m of funding for high-quality regeneration projects in communities such as Bolsover, Monmouthshire, Warrington, and Eden Valley. “All of which have particularly effective local MPs as their champions,” said Mr Hunt.
Penrith and the Border MP Neil Hudson said: “This is a tremendous opportunity to take full advantage of local talent, unlocking the economic potential of rural Eden and allowing entrepreneurs and business leaders alike to thrive.”
A spokesman for Westmorland and Furness said the Government had allocated £7m funding for the Inspiring Eden Enterprise Hub as part of a £37.5m of investment to support regeneration projects across the UK.
“Government has made clear that the funding is still subject to final approval and Westmorland and Furness Council officers are now reviewing the original business case in light of the announcement, engaging with officials at the Department for Levelling Up, Housing and Communities to understand the implications and discuss next steps,” the spokesman added.
Westmorland and Furness councillor Mary Robinson, who was portfolio holder for economy and enterprise at Eden Council when the bid was submitted, said: “I am delighted to hear this has finally been accepted. Economic growth is key to thriving communities and key to this is skills development which was at the heart of the bid.
“Westmorland and Furness Council recognises the importance of working in partnership and I look forward to seeing this project coming from vision to reality.
“I pay tribute to the Invest in Eden team at the former council for all their hard work.”
Westmorland and Furness Council leader Jonathan Brook said: “We look forward to confirming how the funding can help unlock the full potential of local rural enterprise and entrepreneurship.”
Suzanne Caldwell, of Cumbria Chamber of Commerce, said they were “delighted” with the statement.
“This is an exciting development, and Stoneybeck is a great location for it. There has to be a concern though around the estimated 655 jobs, given the significant challenges businesses are already having in trying to recruit and retain staff. We desperately need significantly more people in the workforce if developments like this are going to bear real fruit,” she said.
