This winning bid was set out in Corby’s Town Investment Plan that detailed four projects that encourage economic growth in the local area.
These projects aim to help improve the town and unleash the economic potential of the area.
The Corby Town Deal Board will now decide how the money will be allocated and which projects can be progressed.
Tom Pursglove, MP for Corby and East Northamptonshire, said: “After a huge amount of effort went into producing an ambitious ‘Town Deal’ bid for Corby, I am delighted that the Government has enthusiastically backed it and funded our projects with nearly £20 million of funding.
"It gives the green light to further boosting our local education offer, growing jobs and opportunity in the local economy and improving our transport infrastructure, including the links between Corby railway station and the town centre, including high quality active travel opportunities.
“Today’s announcement marks a big moment for Corby - the next chapter of regeneration in our town will now be a reality.
"This is very exciting news and I am delighted that having engaged thoroughly with residents to find out what improvements they would like to see, the Corby Town Deal Board drew up a robust bid and the Government have strongly backed it.
"I believe this substantial award will serve as a catalyst for further investment and improvement in the years ahead - we are all ambitious for our town and we will build on this success.
“I would like to thank all those involved in this genuine team effort locally, and ministers for their confidence in our plans.
"Now I will be pressing for the earliest possible delivery of the various projects - there is no time to waste.”
The schemes include:
• Sixth Form College at Chisholm House - Chisholm House will be re-purposed and renovated to be a carbon neutral building using the latest innovative technologies to bring this ground-breaking and modern building to the heart of the town centre. It will attract 16 to 18-year-old, young adults from the surrounding Northamptonshire area.
• Market Walk East Site – A potential multi-use building bringing together community and commercial usage in the town centre. This unused gateway site will link Elizabeth Street to the main town centre.
• Corby Station Links – This project will look to improve the public realm on Oakley Road for cyclists and pedestrian usage. This main road will look to update these important links in Corby from the train station, Tresham College and the town centre.
• Smart and Connected Corby – This project seeks to establish Corby as a smart and green town centre through harnessing connected and clean technologies. Using the latest connected and smart technology will enable the mapping of flows of pedestrians, cyclists, motorists, shoppers, and visitors to understand the present use and help predict the future use.
Communities Secretary Rt Hon Robert Jenrick MP announced new town deals in 26 areas, backed by more than £610 million investment from the Towns Fund.
Locally-led projects will be funded to transform disused buildings and public spaces, deliver new green transport and create new opportunities for people to develop new skills.
Cllr Jason Smithers, leader of North Northamptonshire Council, said: “This is great news for Corby and surrounding area and I’m delighted to see this level of investment being made in the town.
"The projects that receive funding will help create an environment that will bring economic growth, jobs, new skills and do so in a way that can help protect the environment which is so very important.
“This injection of money will see the town build on all the hard work which has taken place so far to make sure Corby is better connected and can offer better opportunities for everyone who lives and works there.”
The Town Fund is to boost local economies, create jobs and help them 'build back better' from the pandemic, part of the government’s 'levelling up' programme
This news has been welcomed by members of the Corby Town Deal Board, set up in connection to the Town Fund.
The board had its inaugural meeting in January 2020 and includes individuals from various businesses, community groups and public sector bodies to develop and agree Corby’s Town Investment plan and to develop a clear programme of interventions.
The board will continue to oversee the projects through to their completion.
Chairman of the Town Deal Board, Lorna Dodge said: “This investment is excellent news for Corby and has the potential to maximise opportunities through the innovative regeneration of space.
"The town centre will be a focal point for surrounding residential communities and will be accessible, visible and well signposted.
"Combined, this will provide Corby with an economically confident base to address future challenges.”
To find out more information on Corby’s Towns Fund and its progress, follow the link to the dedicated website Home - Corby Towns Fund .
Corby is one of 26 towns to share the £610 million.
A Town Deal is an agreement in principle between government, the lead council and the Town Deal Board. It will set out a vision and strategy for the town, and what each party agrees to do to achieve this vision.
The offers announced today respond to locally led proposals put forward by the lead council and Town Deal Boards with representation from business, the local community, public sectors and local MPs.