Urban Cores scheme boosted by £60m loan

摘要

The Treasury has given the green light to a £60m loan to the North East Local Enterprise Partnership (LEP) to help create 11,000 jobs.The loan by the Public Works Loan Board (PWLB) will fund the Urban Cores Project, which has been developed by local authorities in the region to kickstart economic growth, by creating 500 jobs in the short term and a further 11,000 in the long term.Work will then start on all the key parts of the project once the borrowing has been approved by all the councils involved.In Newcastle, the work will include the development of a 12-hectare site in the city centre, which will become 'Science Central.