Major plans to invest in East Cowes are outlined in budget papers set to go before Full Council this week.
As part of its 2022/23 spending plans, the Isle of Wight Council is proposing to invest around £389,000 in the East Cowes Marine Hub project, helping to create more than 150 jobs at Wight Shipyard based at the historic Columbine Works.
The significant investment will help lever millions of pounds in central government funding from the Levelling Up Fund, first announced last year.
100 new jobs in Northwood
Elsewhere, up to 100 new jobs could be created in Northwood with plans to allocate £900,000 towards a new business centre offering the first co-working location on the Island, much in demand as the work from anywhere, post pandemic workplace becomes ever more popular.
Newport and Ryde shopfronts and public spaces
Improvements are also on the cards for Newport and Ryde where shopfronts and public spaces will benefit from £1 million in match funding proposed as part of the High Streets Heritage Action Zone project.
Jones-Evans: Aspirations to grow council income
Cllr Julie Jones-Evans, Cabinet member for regeneration and business development, said,
“The council’s regeneration programme is central to our aspirations to grow the income coming into the council, so to avoid cuts in services and spending.
“The council’s improving relationship and reputation with funding bodies and the profile of the Island as a place to invest, aligned with the collective will of the community to build back greener, considerably enhances regeneration potential on the Island.
“Our budget proposals are designed to enable and capitalise on these opportunities.”
Highlights
The draft budget, which already has Cabinet support, also includes support for:
- the Branstone Farm jobs and housing scheme, developed by Island partners on council land which will open with a mix of new businesses, growing businesses and family homes;
- community celebrations for the Queen’s Platinum Jubilee in June;
- Shaping Newport’s parking pilot, providing an hour of free parking in some car parks;
- the regeneration of Newport Harbour and a flagship cultural centre;
- the finale of the Tour of Britain, the UK’s most prestigious cycle race, in September.
Full Council is due to consider the draft budget on Wednesday, 23rd February.
News shared by Isle of Wight council press office, in their own words. Ed
