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Norwich BID supports successful £25 Million Town Deals Grant, with £180,000 earmarked for InvestNorwich

Norwich BID is thrilled to have played a key role in Norwich being awarded £25million in Town Deals funding.

The grant application led by Norwich City Council, New Anglia Local Enterprise Partnership, Norwich BID, Norfolk Chamber of Commerce and Norfolk County Council, will support the city in achieving the Norwich 2040 City Vision, recovering from the impact of Covid 19, and moving into the future with resilience. The Town Deal Board also had representatives from different sectors including the University of East Anglia, Norwich University of the Arts, DWP, Aviva, Jarrold, Clive Lewis MP and Chloe Smith MP

Norwich is one of only 7 community areas in England to benefit from this new funding commitment, allowing the city to invest in our local economy at this crucial juncture, with the objective of boosting employment prospects, quality of life, and encouraging inward investment.

The £25m will help Norwich City Council to realise their 2040 Vision, built on the five key pillars of Norwich as a connected, creative, dynamic, fair, and liveable city. The funding includes plans to create a new digital hub, a digi-tech factory and an advanced construction and engineering (ACE) centre. These developments will grow the city’s digital sector, bringing new jobs and opportunities to the community.

Alan Waters, leader of Norwich City Council, said: “This is a significant investment in Norwich at a time when we need to plan for the future of the city and its recovery. This gives us the opportunity to rethink our approach to achieving our ambitions as part of Norwich 2040 City Vision and allows us to look at our long term future regionally, nationally and internationally.

The £25m will help to fund clean growth and ensure our residents are equipped with the skills of the future, have access to good jobs with fair pay and progression, and are better connected to our growth sectors. The success of this deal is testament to how well the city works in partnership.”

A dedicated campaign for Norwich as the place to do business

Within the £25 million funding, £180,000 is allocated for Norwich BID’s InvestNorwich initiative. InvestNorwich will develop Norwich’s national reputation as the place for business; promoting Norwich as one of the best places to live, work, learn and succeed. Norwich BID will work in collaboration with businesses across the city’s eight districts, to enhance the business offering and drive growth and resilience.

With a real focus on Norwich as a top city for quality of life, InvestNorwich will create a holistic approach to empowering local businesses and promoting the city, to drive inward investment and create employment opportunities. Delivered within the City of Stories brand, and through the local business community acting as ambassadors for Norwich, InvestNorwich will create a single platform capturing the extensive offer of the city: economically thriving, sustainable, creative, affordable, and forward-thinking.

Stefan Gurney, Norwich BID Executive Director says “We’re thrilled to be able to extend our remit and build upon our relationships with city businesses with InvestNorwich. The health of our local economy and the reputation of Norwich is crucial to all of us at Norwich BID, and this Town Deals funding will enable us to strengthen the fabric of the city. We’re looking forward to working closely with individuals and organisations from across Norwich through our District Dialogues, ensuring that InvestNorwich is a project led by the needs of our businesses and residents.”

Through mentorship, toolkits, and partnerships, our city’s businesses will benefit from crucial upskilling and networking opportunities. Designed to be a community first, InvestNorwich will create a collaborative environment for our businesses, employers and employees to thrive.

Norwich BID looks forward to taking the next steps to develop the InvestNorwich brand, platform, and District Dialogues. Over 40 businesses were consulted the development of the InvestNorwich concept, and our thanks go to them for their input in shaping the next steps of this project. For more information  and to get involved, please contact a member of the BID team.