Page 132 - Barrow Town Deal Board Agenda 14/4/2020

Concept 5 Concept Strengths:

▪ Strong case which demonstrates how a local campus will
enhance HE provision and address skill shortages
Overview
▪ Clear market failure argument which the project will address
A new university campus focused on addressing through retaining young people, increasing educational
specific skills shortages in the local economy including attainment, and supporting local people to access high level
skilled jobs
advanced manufacturing, health and clean energy.
▪ Key partners identified

Project Name University Campus ▪ Positive feasibility assessment which indicates the project can
be sustained once operational within a short time frame (i.e. 2-3
years) under various sensitivity tests
Project Type Skills and Enterprise
▪ Identified student spend facilitated by scope for student
Total Cost & TIP Funding c.£13m (c.10.4m TIP request / 80% accommodation to attract students to Barrow
Request intervention rate) ▪ Route to private sector leverage identified
Capital
Location Barrow Island ▪ Contribution to inclusive growth with targeted plans to improve
access to HE for the most disadvantaged

Direct outputs New 3,100 sqm building; 1,000 HE Concept Weaknesses:
students by 2032; 6,000 graduates
between 2022-2032 ▪ Distance of proposed location to town centre may limit
Wider impacts Higher level skills; improved regeneration benefits and ability to access by sustainable
productivity, business growth and transport
innovation; graduate retention; ▪ Short time frame for delivery which may be impacted by current
regeneration and vitality economic uncertainty

▪ High intervention rate with match funding still being explored
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