£20m business investment plan for county aims to create 3,000 jobs, with areas including Stamford, Holbeach, Grantham, Boston and Sleaford to benefit
Council bosses are hoping to accelerate economic growth and deliver 3,000 good-quality jobs for residents through a £20 million investment programme.
The funding will support the creation of customised facilities for defence, agriculture, and advanced manufacturing businesses, as well as industrial units in areas deemed unviable by private developers.
Among the projects highlighted for support are the South Lincolnshire Food Enterprise Zone at Holbeach, a regional hub for advanced manufacturing in Grantham and industrial units and offices in Stamford.
At a meeting of Lincolnshire County Council's Executive today (December 3), members unanimously approved the establishment of the £20 million economic investment fund through its capital programme for 2025-2030 to support key investment priorities.
Coun Colin Davie (Con), portfolio holder for economic development, environment, and planning, described it as a ‘strategically important paper’ outlining the council's vision for investing in Lincolnshire's economy over the next four years, starting in April 2025.
Justin Brown, assistant director for growth at LCC, stressed the importance of focusing on rapidly growing sectors while addressing market failures in certain locations.
He highlighted unmet demand for office facilities in the defence sector, pointing out that the additional cost of creating facility security clearance has posed challenges for private investment.
The report outlined several projects, including a large purpose-built facility for defence contractors, a regional hub for advanced manufacturing in Grantham, and an expansion of the South Lincolnshire FEZ.
It also proposed addressing market failures across the county by developing small to medium-sized industrial units at locations such as Sleaford Moor Enterprise Park, Grantham, and Stamford.
Furthermore, the plan suggested creating serviced offices in Grantham and Stamford, subject to favourable local demand studies.
East Lindsey, Boston Borough, and West Lindsey were identified as the areas with the greatest need for investment to address market failure.
Coun Lindsey Cawrey (Con), portfolio holder for fire & rescue and cultural services, was among the first to support the report, insisting it demonstrated ‘months of hard work’ in identifying key sectors.
She added that the jobs it would create would benefit young people still in education, helping them remain in Lincolnshire rather than ‘losing them to big cities’ for employment opportunities.
Leader Martin Hill (Con) insisted that this funding would demonstrate to the government and investors that Lincolnshire has a clear vision for its future.
