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24/04/2008

£1.6m Boost For Forest Of Dean Town

Coleford is to be transformed thanks to a £1.6m investment by the South West of England Regional Development Agency (South West RDA).

The funding will be used to lead a sustainable economy by unlocking the business potential of the Forest of Dean town. It will realise bold plans for two major town centre developments, which have been drawn up in partnership with the local community.

Some of the money will be used to buy land at Bank Street, which is needed for a housing-led development, with extensive business opportunities, being taken forward by the Forest of Dean District Council.

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The rest will be put towards the creation of a new Coleford Community Enterprise Centre at Old Station Way, which is being led by Gloucestershire County Council. The centre will be run jointly with the Coleford Area Market and Coastal Town Initiative (MCTI) Partnership.

It will provide a highly visible symbol of the town’s regeneration and help to create an estimated 24 new jobs and 11 new businesses, as well as providing facilities which will allow existing businesses to perform better. Another 40 jobs will be created through construction work and staffing of both the centre and the Bank Street development.

(JM)

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