Page 42 - Minutes of meeting
P. 42
Introduction
Barrow has been identified as one of 101 places across England that can
secure access to the £3.6bn Towns Fund. The Fund will be allocated
through Town Deals which could see up to £25m of new investment being
delivered to Barrow. Each town must develop a well-evidenced Town
Investment Plan which sets out a clear understanding of the area,
focusing on its assets, opportunities and challenges. The amount of
investment secured from the Towns Fund will be determined based on
the strength of the Town Investment Plan, amongst other factors.
The purpose of the Socio-Economic Narrative report is to provide
background, context and evidence of need to underpin the development
of the Town Investment Plan. It is also expected that this report will be
used for wider purposes outside of the Town Investment Plan.
The report considers:
▪ Macro-economic drivers of change
▪ The prevailing policy environment
▪ Socio-economic challenges
▪ Assets and opportunities for growth
The report concludes with identification of the strategic implications for the Barrow Town Investment Plan through a SWOT of
each Town Deal theme. Specifically, the report concludes by validating the 10 strategic objectives established by the
Town Deal Board.
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