International Trade Secretary Dr Liam Fox names Wisbech Garden Town as one of 68 projects seeking overseas cash
Wisbech Garden Town is one of 68 national projects being promoted by the Government for attracting international investment.
Dr Liam Fox, International Trade Secretary, launched a new drive to attract around £30 billion of overseas investment into the UK - £2.5 billion of that would be for the Wisbech project.
Speaking at a Board of Trade meeting in Scotland Dr Fox said: "This is a bold and ambitious programme, building on the UK’s position as the leading destination for foreign investment in Europe through the government’s modern Industrial Strategy, helping to build a Britain fit for the future.
"The High Potential Opportunities scheme will deliver growth where it is most needed, ensuring that the benefits of global investment are felt in every part of the country.
"And with more than £30 billion worth of new opportunities, my international economic department’s overseas network is working hard to attract top investors to the UK."
Wisbech Garden Town concept was born in 2016 out of the Wisbech 2020 Vision programme when associated partners recognised that high levels of deprivation in the area could only be reversed through growth of housing and the economy.
Some of the foreign investment would not only go towards building the houses but also on infra-structure projects like the Wisbech Rail Link and also dualling the A47 - two schemes deemed essential for the future prosperity of this area.
The Wisbech project was one of three chosen in the East of England, the others are a hi-tech enteprise scheme in Ely which will be looking for £800 million and Nelson Quay in King's Lynn which wants £120 million.
Cambridgeshire Mayor James Palmer welcomed the news and said: “This initiative from the Department for International Trade which is aiming to showcase the opportunities we have in Cambridgeshire and Peterborough for global investment is to be greatly welcomed.
“We have to be outward looking when it comes to attracting investment and we want to tell the world that our area is a great place to do business. That's especially important in the run-up to Brexit and beyond.
“Both the Wisbech Garden Town and the CAMRO data campus in Ely, are clearly schemes that will require significant investment. Like the International Trade Secretary, I believe we need to be ambitious and bold when it comes to promoting ourselves, but as Mayor I'm also keenly aware that we need to put better infrastructure in place to attract that vital investment.
“I'm keen we send a message to global investors that we are serious about pushing the economy of the Combined Authority area further and further forward.
"We need to improve connectivity across our whole economy so that people can better take advantage of the opportunities on offer across the whole of Cambridgeshire. That's why, for example, we need to improve our Fenland rail services, including reopening the station at Wisbech. By putting in place these crucial links we open up more of our economy to more people.
“The message has to be that Cambridgeshire is open for business, and this initiative brought forward by the Department for International Trade is only going to help put our area further into the global investment spotlight.”
