At last week’s Liverpool City Region Combined Authority meeting, projects designed and submitted by Knowsley Council were given the green light to go through to the next stage of the Single Investment Fund (SIF).
In total, just over £458m of SIF funding is being invested in the City Region over the next five years by the Combined Authority as part of the City Region’s Devolution Agreement with the Government. The SIF is the key funding tool for promoting economic growth for the Liverpool City Region, and will support the delivery of the City Region’s strategic priorities as well as unlock the economic potential and accelerate growth.
SIF bids submitted by Knowsley Council include:
The Shakespeare North Playhouse – The £6.5m funding bid is a contribution towards the £26m costs to construct and develop the Shakespeare North Playhouse in Prescot town centre. The Government has already supported the project by providing £5m of funding, with Knowsley Council also itself committing £6m to the project. The new playhouse will stand just metres from the original site of the only freestanding purpose-built Elizabethan theatre outside of London. As well as being an exciting space to perform plays, the centre will be a magnet for students from all over the world hoping to study Shakespeare and his work. Whilst recognising Prescot’s rich heritage, the development is expected to have a multitude of benefits for the town and the wider area. It is estimated that the theatre and education centre will deliver more than £10m worth of value to the local economy, as well as 210 construction jobs and 57 full-time jobs once the facility opens.