Grow on space that could bring £20m to Harborough economy wins funding

A major project to help businesses expand and grow – set to bring £20million into the Harborough district economy – is to be created after funding was secured.

Harborough District Council is providing up to £3,620,612 to fund the Grow on Space project and has just announced that £3,282,500 funding from the European Regional Development Fund (ERDF) and £987,833 from the Leicester and Leicestershire Enterprise Partnership (LLEP) has been officially confirmed.

The project will see the development of a new commercial building that would provide office space for businesses looking to grow and move into larger accommodation in the district.

The Grow on Space project is expected to create around 230 jobs and bring £20million into the local economy over the next five years.

It follows the success of the Harborough Innovation Centre, which Harborough District Council developed and opened in 2011, to provide office space for start-up and new businesses.

Cllr Neil Bannister, Leader of the District Council, said: “It will provide 19,000 square feet of office space, supporting 10 to 15 companies when at full capacity. About 230 jobs are likely to be created and that will bring in an extra £20million to our local economy here in the Harborough district.

“This is a really exciting opportunity and it shows the district’s commitment to economic prosperity and support for our business community.”

The Grow on Space building, which would be located at Compass Point Business Park in Market Harborough, is expected to be completed in late 2019 and will be built to high environmental standards [BREEAM Excellent].

When complete, office suites will be available ranging from 1,000-3,000 square feet with flexibility to meet business demand.