A new £4.1 million “Business Incubation Centre” has been given the go-ahead this week with councillors vowing it will help improve employment prospects in Grantham.
The new building is part of the Grantham Growth Point project and will be built in Wharf Road on the site currently occupied by Tanvic and Jewson to form a new-look Station Approach.
Paul Wheatley, head of regeneration at Lincolnshire County Council, said: “As it develops over the next few years Station Approach will become the economic crowning glory of Grantham Growth Point.
“If the Station Approach development is to be the crown of the Growth Point then I believe that the Business Incubation Centre should be seen as the jewel in the crown.”
The BIC will be operational by late 2014 and both the district and county council believe it will be a facility through which new businesses in Grantham are stimulated and supported over the next 20 years.
Coun Frances Cartwright, head of economic development at SKDC, said: “When this project is complete everyone will see how serious we are in our aspirations to improve employment prospects in Grantham.”