A £9.5MILLION scheme to bolster flood defences, create more than 600 jobs and build 250 homes in Padiham could ‘unlock the town’s potential’.

The Lancashire Enterprise Partnership along with Burnley Council are applying for £8.25million from the Government’s Homes and Communities Agency for industry and homes and the Environment Agency for flood defence funds. Other money will come via grant applications.

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A key component of the project is creating measures to protect homes and businesses in Padiham in the wake of the devastating floods which took a terrible toll on the town in December.

Such schemes, according to the growth deal submission, would protect nearly 10,000 homes and businesses from the River Calder, should such extreme weather strike again.

The major aspirations of the development bid, which is known as the ‘North West Burnley Growth Corridor’, are to build 250 homes, of which ten per cent will be starter homes, and create 622 full time jobs in manufacturing and logistics.

The infrastructure development would be for two locations at Padiham and Hapton.

The key sites named in the bid are the former Baxi site in Padiham town centre and the nearby Shuttleworth Mead Business Park, which will see controlled expansion close to the M65.

The development will also provide the opportunity to extend the East Lancashire Cycle Network.

The period in which the investment is expected will be for a two year period beginning 2018/19 with the potential to push projects back by one year.

Councillor Sue Graham, who leads on business development on Burnley Council, said: “Burnley has seen success in attracting prestigious firms and is known as a location for manufacturing excellence.

“The conditions are in place for such development and the Burnley area is better equipped than most in Lancashire for such schemes.

“I’m sure everyone in Padiham will welcome moves to improve flood defences after the events of last December.”

Padiham councillor Andrew Tatchell also welcomed the proposals.

He said: “This shows the potential that Padiham has for jobs and investment.

“Development at the old Baxi site was relatively warmly received by residents when discussed last year but that site is close to the river.

“That’s why flood defences is a key issue to make these things happen.

“I know there are very good people dealing with how to protect Padiham from rising river levels.

“The work might not be in the centre of town but I’m sure adequate schemes are being planned.

“The take up by businesses at Shuttleworth Mead I’m told is very high, up to 80 or 90 per cent, so it shows that the area is attractive for businesses.”

The Lancashire Local Enterprise Partnership (LEP) is a collaboration of leaders from business, universities and local councils, who direct economic growth and drive job creation.

It was formed in 2011 to make the county the location for business growth and inward investment.

A spokesman for the LEP, said: “We aim to do this by ensuring all our companies have easy access to high-grade support services that promote sustainable expansion.

“We welcome many inward investors and work with them closely to ensure they can access top quality premises and skilled people needed to grow their activities in the region.”