At the end of November, it was confirmed that Torbay had secured £20million in Levelling Up funding from the government.
The latest investment pot from Westminster will finance a Brixham Fish Quay Expansion and a new Electronics and Photonics Park in Paignton after the Town Hall’s so-called ‘Brixham Fish and Hi Tech Chips’ funding bid was finally given the green light.
This £20 million investment, supported by an additional £4.79 million from the Town Hall, will provide £16 million for a new fish quay and will double the size of the current auction hall – unlocking the next generation of growth for the local fishing industry.
£8 million will be provided to build a new Electronics and Photonics Production Park with new specialist production facilities. This will strengthen EPIC’s record of innovation and attract new inward investment.
Torbay Council says the funding will accelerate economic growth locally and provide more employment opportunities in the key local sectors of fishing and electronics and photonics.
Council leader David Thomas, said: “We are delighted to hear this news from Government today that has once again identified Torbay to receive more Levelling Up funding. This brings the amount of funding from the various pots secured for the Bay to over £100 million.
The fishing proposal sets out how land will be reclaimed to extend the harbour and fish market in Brixham. This project will include the delivery of an extra 7,000m² of quayside, creating additional landing space. This will enable up to an extra five fishing vessels to off-load simultaneously. It also includes the construction of two new auction halls, doubling the current capacity.
These investments could lead to an increase in landed fish value of up to £20 million per year within five years – creating a forecasted 150 additional year-round jobs and more than £11 million, adding value per year in fishing and linked activities.
Brixham MP Anthony Mangnall has welcomed the news. ‘Today’s announcement from the Department for Levelling Up, Housing and Communities comes after the council’s applications for the first two rounds were unsuccessful. Minister for Levelling Up, Jacob Young MP, shared the news that the ‘Brixham Fish and Hi Tech Chips’ project is one of the bids which has now been assessed by the department as being high-quality and ready-to-deliver.