£20 million injected into Plymouth waterfront and port

By Tom Kilkelly

23 November 2023

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Image courtesy of One Plymouth

Plymouth waterfront and port is set for a huge investment from the UK government through its Levelling Up Fund.

£20 million of investment is being provided for the waterfront and port to regenerate the city by accelerating the Freeport, National Marine Park and Net Zero vision.

The specific projects receiving funding in Plymouth are listed as follows: the development of marine innovation through the development of products and spaces for said development; the modernisation of port infrastructure at Millbay, specifically the upgrading of port infrastructure to increase freight through the ferryport; the transformed waterfront, repurposing derelict buildings to 'engage, inspire and train' future workforces at the waterfront and port.

Plymouth Council Leader, Tudor Evans, said: “Absolutely brilliant news. That’s nearly £20 million worth of investment into Plymouth.

“We keep pressing the case for investment in projects that we believe have the potential to make a huge difference to our economy and to the people who live here – and it’s paying off.

“We have an extraordinary waterfront. We have some exciting ideas to help people in Plymouth prosper and want to create opportunities for young people to learn skills that will see them with great jobs in the blue economy. The projects we have put forward will help make this happen.”

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Funding has been fruitful across the south, with Gosport, the Isle of Wight, and Croydon all receiving investments in the tens of millions.

Croydon is getting £18.5 million for the Reconnecting Croydon scheme, which will see six infrastructure and public realm projects funded to reconnect and revitalise Croydon’s streetscape.

These projects will cover the South End restaurant quarter, East Croydon station, West Croydon station and Old Town and Croydon Minster. Central to the bid is the delivery of a new civic square for the Fairfield cultural complex, connecting Queen’s Gardens and Surrey Street Market.

£18 million has been provided for the Reconnecting Historic Gosport Waterfront scheme, which will be used to create better connections and walking routes between Gosport town centre and the historic waterfront and to support the restoration and development of the former naval Rum Store at Royal Clarence Yard.

The Isle of Wight is set to receive £13.5 million for its Island Green Link Project. Isle of Wight council were previously unsuccessful in their application, but received funding following the competition runners going back and selecting 'impressive bids' from previous rounds.

These funds will be used to upgrade the Isle of Wight's transport infrastructure, the West Wight Greenway, and the Newport Hub and Spokes Scheme.

By Tom Kilkelly

Tom Kilkelly started working as a freelance journalist for The Business Magazine following his graduation from UCL in 2022.

During his studies Tom became very interested in the works of Irish authors including Samuel Beckett and Flann O'Brien (Brian O'Nolan).

His current role as a freelance business reporter is his first exposure to the world of business journalism. Working at TBM has given Tom the chance to really get to grips with the goings-on in the business hive that is the South East.