Penrith and The Border MP, Dr Neil Hudson, has thrown his support behind an £8 million bid to build a state-of-the-art Inspiring Eden Enterprise Hub, near Penrith.
A mix of offices, studios, workshops, and collaborative spaces for small and medium businesses to develop and succeed, the hub is expected to see around 80 new companies, 500 jobs and £20 million worth of economic benefits in its first decade.
Plans were agreed upon at Eden District Council’s Cabinet’s recent meeting with the investment coming from the Government’s £4.8 billion Levelling Up Fund aimed at reducing regional inequalities through a variety of innovative new projects.
Dr Hudson has worked closely with Eden District Council and local stakeholders in the bidding process, and as the local MP has submitted formal priority support for the bid.
Dr Neil Hudson, MP for Penrith and The Border said: “This is a really exciting project for everyone across the constituency and beyond – a state of the art hub will drive rural excellence across the region, allowing businesses to thrive and putting Penrith on the map for enterprise. Making sure the Government’s keystone Levelling Up agenda works for rural communities such as ours has been one of my main priorities since being elected – that’s why I’ve been so pleased to work with councillors and local stakeholders on our powerful application.”
“The potential benefits of this project are as wide-ranging as they are valuable. From providing opportunities for our talented young folk to develop their careers in the local area to pulling in capital by supporting rural entrepreneurs, our future will look all the brighter if we can secure this mammoth investment from the Government’s Levelling Up Fund.
“I think it's so important to work collegiately with people from across the political divide in order to achieve real change for rural places like Eden. That’s why I’ve relished the chance to collaborate on the project with Eden District Council to create a long-lasting enterprise hub that will benefit people across the region for years to come.
“I’ve stood up in the Commons again and again to champion rural Levelling Up so I hope the Government has taken note and will see, as I do, the inspirational effect this project will have on Eden. I will keep banging the drum on this, and am urging the Government to support our bid.”
If successful, the hub will open in late 2024 and be located on the Stoneybeck Roundabout, north of Penrith.
Not purely a business project, the hub is designed to act as a focal point for collaboration between industry and academia – with Lancaster and Cumbria Universities connected to the development. This will include a space for live demonstrations and teaching.
£7.2 will be provided through Round 2 of the Levelling Up Fund, with the remainder being met by Eden District Council’s Inspiring Eden fund and the landowner.