Cllr Darren Cowell, Deputy Leader of Torbay Council, said; “Torbay Council submitted a bid to secure up to £20m from the Levelling Up Fund to accelerate economic growth locally.  

“Our application focused on a programme of works that would see the further development of Brixham’s Fish Quay and Market and create a new Electronics and Photonics Production Park in Paignton. Both elements of our bid supporting growth in sectors where Torbay has an internationally recognised offer.  

“We are disappointed with the news that we were unsuccessful with our bid. A successful outcome would have created new jobs supporting the growth of Torbay’s key sectors and attracted inward investment.  

“The impact of not securing this funding not only means over 9,000sqm of much needed employment infrastructure not being enabled and developed, but the loss of £29m of potential economic growth to an economy which urgently needs support to increase productivity and the value of jobs. 

“Restricting the growth of local industry could ultimately move sectors out of the Bay which will be further detrimental to the local economy.” 

Cllr Swithin Long, Cabinet Member for Economic Regeneration, Tourism and Housing, said; “Despite the disappointing news, the council will continue to invest in the local economy. In August 2021 Torbay Council’s Cabinet gave their support to create the first phase of a new Electronics and Photonics Production Park at Torbay Business Park in Paignton, creating 175 new high value jobs. That decision will see the council develop a new unit for EFFECT and continue to work with partners in the h-tech sector to identify other prospective tenants so that we can deliver higher levels of growth for the communities of Torbay.  

“With regards to the expansion of Brixham’s Fish Quay and Market, we remain committed to exploring other funding opportunities as well as working with our community partners to deliver a scheme that is right for Brixham. 

“We will be seeking feedback on our bid so we will be better placed for future opportunities.  

“Despite this disappointing news, we continue to develop other projects across Torbay where we have been successful in securing grant funding.”