Torquay Gateway will unlock a key strategic employment site at the gateway to Torquay, creating 23 jobs immediately and lever in a further £5.5M investment leading to a further 135 jobs in the short to medium term.
This project will fund necessary infrastructure on a site that suffers serious engineering constraints making it unviable for development. Torbay Council has already invested £3M to acquire the site and Getting Building Fund funding will enable the necessary work to bring forward employment space, modern business premises, jobs and economic growth.
Getting Building Fund grant enables:
- Accelerated investment and expansion for one company creating 23 jobs and generating £7.2M for the local economy
- Accelerated negotiations with a foreign owned company looking to locate their UK headquarters on this site creating up to 70 new high value jobs over 2 phases of investment resulting is a further £5.5M investment
- A further 1.25 ha of employment space to be developed accommodating up to 2,017 sq. m and creating up to 44 jobs
Getting Building Funding: £2m
Completion date: March 2022