Plans to keep Basingstoke buoyant have been given a big boost with the announcement of £5 million in government funding to help solve the borough’s infrastructure issues and support major projects to improve the town centre and its commercial heart.

This week the Government has announced £1,726,709 in New Growth Point funding for Basingstoke and Deane Borough Council in 2008/2009 and indicated that this would be followed by an addition £3,170,188 in the following two years.

The funding is part of £732 million announced for New Growth Points nationally. Basingstoke was named as one of 29 New Growth Points across the country in October last year, recognising that it needed financial support for growth as it is one of the key drivers in the south east’s economy.

The money will help to support the council’s proposals for the future of the borough, which include:

• The regeneration of one of Basingstoke’s key commercial areas, Basing View, as a 21st Century economic hub
• The creation of an integrated transport network
• Working with key national economic and educational bodies, including the South East England Development Agency (SEEDA) and universities, to develop a ‘learning campus’. This would bring together further ‘vocational’ style training with higher education degrees and state of the art research.
• Providing a wide range of housing that meets the needs of all the community through the on-going development of large housing sites and brownfield regeneration
• Continuing to develop shopping, leisure and cultural facilities making Basingstoke a great place to live, work and visit
• Maintaining and enhancing the built and natural environment and urban public spaces

It will also help fund work being carried out by the borough council, with key partners, to develop solutions to water quality issues, especially the treatment of waste water, and manage the pressures on the strategic road network, as well as better understanding the long-term economic opportunities for the town.

Cabinet Member for Economic and Educational Development Cllr Andrew Finney said:

This is government backing for our ambition to maximise the potential of Basingstoke and Deane, through planned growth. This funding will help us achieve our vision of a prosperous borough where business can flourish and where people can live in decent homes in well-planned developments.