The £5.66 million is the second tranche of a wider funding package secured via the Government’s Local Growth Fund by the Marches LEP for NMiTE, and is subject to the project achieving a series of targets, including the number of learners enrolled and jobs created.
Mandy Thorn, chair of the Marches LEP, says the project is strategically important for the region in helping to deliver economic growth.
“The LEP Board met last week and welcomed the NMiTE team, which presented its updated plan following the submission of its business case. Funding allocation was agreed by the board, subject to conditions, to go towards the creation of three centres in the Hereford Enterprise Zone for graduate, undergraduate and higher apprenticeship students. The board was encouraged to hear from NMiTE about the significant levels of interest from private sector organisations, which will deliver a further £5 million of investment.”
The go-ahead by the LEP board follows the initial £2.34 million deal signed in August that has been used to support the transformation of the former Robert Owen Academy in Blackfriars Street, now known as Blackfriars, for future students to learn practical engineering skills.
Professor Elena Rodriguez-Falcon, president and chief executive of NMiTE, says: “This is welcome news for NMiTE, having received its full support from the Marches LEP of £8 million. Work has already begun at Blackfriars, our first major teaching centre, which is already making a significant difference to meeting our targets. We are looking forward to the new developments at the Enterprise Zone.”
The Marches LEP is a private-sector led company working in partnership with the local authorities in Herefordshire, Shropshire, and Telford and Wrekin to drive economic growth across the region.
