A new £250m fund could boost projects, including a 5,000-seat sports arena in West Yorkshire.
The Combined Authority needs to approve the fund and would borrow money for it. This money comes from government funding each year. The fund aims to start big projects. It could bring in £900 million total, and private companies might invest too. So far, there are possible projects.
One idea is a sports arena that would seat 5,000 people. The authority mentioned this last year. The fund could also help housing plans and support colleges too. A report talks about investment priorities, mentioning the arena idea. The study checks if it’s doable, and the arena would partner with private funders.
Other areas in England have arenas, but West Yorkshire doesn’t have one yet. This hurts talent development, and professional and amateur clubs suffer. Profits could help local facilities. Brabin says the region needs investment. Without it, West Yorkshire cannot thrive.
She is making things happen with this fund, and new homes will be more affordable. Communities should be vibrant. This shows devolution working. Investing helps the region’s future. It boosts people’s earnings and builds a better West Yorkshire. The fund will target key areas.
Housing and regeneration are a focus, with plans for 34,000 new homes on brownfield land. New neighborhoods will link to transport, as well as to social and creative spaces. Culture, heritage, and sports are also key. Pitches, libraries, and venues are important.
The arena may proceed after studies and funding. Creative investments boost skills and jobs, and it also creates vibrant communities. Home energy upgrades are a priority. Every social home would be updated, and homeowners get advice and support for improvements. This should lower their home energy bills.
Net zero goals are a target too, and green projects will help meet it, with local energy plans. The fund supports renewable energy, and things like wind farms and building decarbonization help too. Colleges require adequate equipment, and student demand for skills is rising. Government college funding is set already.
The Combined Authority is exploring options. They support business and people, and that promotes vital transformational projects. A transport system and home retrofitting will get support.