Newark Towns Fund

Transformative plans for Newark have been given the go ahead by the Government, following the announcement that Newark is to receive £25 million funding as part of the Government’s Towns Fund initiative.

What is the Towns Fund?

In September 2019, the government invited 100 towns, including Newark, to develop proposals for a Town Deal, as part of the £3.6 billion Towns Fund. The overarching aims of the Towns Fund is to drive the sustainable economic regeneration of towns to deliver long term economic and productivity growth.

In January 2020 the Newark Towns Fund Board was set up which comprises more than 40 private and public businesses and bodies. This includes businesses, educators, the community and voluntary sectors and town, district and parish councils and together with the local community and local businesses, developed plans to transform the town’s economic growth prospects with a focus on improved transport, heritage, skills and culture. This plans formed involved the submission of Newark’s ‘Town Investment Plan’ which will be available here within the next few months.

Newark Town’s Fund proposals

In July 2020 the Newark Towns Fund Board submitted the Newark ‘Town Investment Plan’ which outlines thirty projects to span the next 30 years, including plans to regenerate the town centre, boost business and improve infrastructure. The government has announced that this plan has been accepted. A copy of the Newark Town Investment Plan can be found here Newark Town Investment Plan (PDF File, 14,634kb)

The priority projects identified to Newark are:

ASI (Newark)® - an Air and Space Institute which will create new jobs locally and train the next generation of skills-matched aviation professionals with military and civil partners including pilots, engineers and ground staff
Expanding the YMCA Newark and Sherwood Community and Activity Village by constructing a new state of the art home to sports and leisure facilities, music and art spaces, conferencing, a wellbeing and health delivery service suite, culinary training, the largest outdoor skate park in the East Midlands and an Olympic climbing centre
Working with University partners to develop a Smart Innovation, Supply Chain and Logistics Enterprise zone to create a centre of excellence with regional and national significance and to provide access to skills development and career pathways
The Castle Gate House project to enhance the experience of Newark’s foremost historical asset and transform the Castle into a major attraction for residents and visitors alike
The redevelopment of 32 Stodman Street (the former Marks and Spencer’s) to create high quality Town Centre residential living and new commercial and office space, creating activity and footfall
Newark Cultural Heart – plans to drive and measure additional footfall and local spend through the repurposing of public buildings and spaces, an ongoing calendar of events and activities, and developing a brand and tone of voice for the Town
Aspirations to work with a range of partners to transform Newark into a ’20-minute town’, giving people the ability to meet most of their everyday needs within a 20-minute walk, cycle or local public transport trip from their home
Southern Link Road is an identified strategic priority within the Core Strategy, Community Plan and Town Investment Plan. The SLR will support the development of projects identified within Newark's Towns Deal, with it being one of ten identified projects as transformational for the town. The SLR project, would unlock employment land and relieve the area's traffic woes by linking the A46 at Farndon and the A1 at Fernwood, providing smoother travel alongside the Newark bypass with an alternative route

Newark towns fund board

Made up of more than 40 private and public businesses and bodies, the Newark towns fund board is the vehicle through which the vision and strategy for the town is defined. See the Terms of Reference (PDF File, 325kb) for how the board will operate.

Read the Newark Towns Fund Local Assurance Framework (PDF File, 326kb) for more information on how the Newark towns fund board will undertake its role in relation to good governance and allocation of public funds.

The Board includes of representatives from the local business and education sectors, relevant national government organisations and/or arm's length bodies, local representative organisations and community groups; local authorities and relevant parish councils; and the local MP. See the board member profiles.

Membership will be reviewed every year. You can request a copy of the board members' register of interest by emailing newarktownsfund@newark-sherwooddc.gov.uk.