The Sheffield City Region Investment Fund (SCRIF) is a key programme designed to increase economic growth and jobs by delivering strategic infrastructure.
While the primary objective is growth, this is balanced with a desire to ensure the benefits are distributed across the SCR.
Three major projects were given SCRIF funding totalling £8.75million this month.
At Peak Resort, on the edge of the Peak District and close to Chesterfield,£2.85million will prepare the site for development as a high quality, long-stay destination.
Work includes access roads, footpath and bridleway diversions and fencing.
The first phase will include two hotels, an educational campus, a multi-purpose events space, and 300 acres of park and woodland. This phase is set to foster 400 jobs and generate £55million of spending in the local economy.
At the Olympic Legacy Park, SCRIF funding will pay for infrastructure(drainage, utilities and landscaping).
This will allow private sector investment in two office/laboratory buildings and a proposed hotel.
Dubbed a ‘living lab’, the park, on the site of the former Don Valley Stadium, is creating synergy between sport, health studies, and wellbeing research. At its heart will be an ‘Advanced Wellbeing Research Centre’.
Meanwhile, £1million will replace two miles of worn-out tram rails between Sheffield city centre and Gleadless Townend. A similar need for repairs has been found on other systems in the UK. One of the UK’s first modern tram systems, Sheffield Supertram opened in phases between 1994 and 1995.