Swindon will benefit from a new entertainment venue, as Chancellor Rachel Reeves supplies £20m from the Growth Mission Fund, to boost the areas cultural offering.
The money will be used to finance the creation of this new venue in Swindon town centre, with aims for a 2,000 person capacity, alongside facilities to host music, arts and other cultural events.
This comes following the Chancellor’s Mais Lecture given this week in London, where she identified investment in towns, cities and areas previously overlooked, as a top priority to build a more secure economy.
The funding is expected to not only create jobs and increase footfall in the area, but attract investors to the town, given the potential of the venue.
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Rachel Reeves, Chancellor of the Exchequer, said “My economic plan to build a stronger and more secure economy is the right one- cutting the cost of living, cutting the national debt, and creating the conditions for growth.
“Backing Swindon with this £20m investment is part of this plan. The new entertainment venue that will be built with this funding will make the town a more attractive place to live, work and start a business in the years to come.”
Councillor Jim Robbins, Leader of Swindon Borough Council, said “This funding from the Government is massive for Swindon. This administration promised the delivery of a new theatre to kickstart growth in our Heart of Swindon vision and today we are delivering on that promise.
“The entertainment venue sends a really clear message to investors that Swindon is on the up and now is the time for them to invest.
“We’ll be working at real pace now to get the designs confirmed, construction started and the new venue open.
“I’m hugely grateful to Rachel Reeves and the Government for making this decisive investment in Swindon and to our great local MPs, Will Stone and Heidi Alexander, for promoting the bid and really explaining the benefits it will bring to the town.
“Swindon is ready to play a key role in the Government’s desire to boost the economy and growth, and a revitalised town centre is exactly what we need to help attract even more jobs to Swindon.
The development will also allow us to build on the strong history of theatre in Swindon, started by GWR workers and developed by the great productions at the Wyvern Theatre, which will remain open until the new venue is up and running.”
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