Research and evidence

This first phase is to revitalise the town square, open-up the waterfront, use existing industrial spaces to allow business to grow and new business to move in to take advantage of the excellent skills and infrastructure network. It will support a unique combination of small and large-scale business growth, use growth to pay for new civic infrastructure, link skills development with employment growth and support community-led regeneration.

Background

St Neots is at an infrastructure crossroads between Peterborough and London, as well as the proposed economic development corridor between Cambridge and Oxford. The town has a strong manufacturing sector, outstanding natural features with the river and green spaces that run through the heart of a historic market town, making it an attractive place to live.

Themes for growth

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Our research has identified four key growth themes which connect our data analysis and engagement findings to programme level interventions.

Industry

The analysis carried out confirmed the strength of the manufacturing sector and the contribution that it makes to the local and regional economy. The analysis also identified a correlation between existing educational levels of the population to those used within the local industry. However, businesses pointed to a deficit in appropriate skills training that is aligned with business requirements.

Transportation

The analysis identified a poorly connected local public transportation service and a high rate of car ownership per household. Additionally, the outward commuting of workers is substantial, which prompts a greater emphasis upon the poor local bus service.

Housing

The analysis identified that the house prices are at the higher end of affordability, which places pressure on the level of earnings required to purchase a home. This, in turn, motes outward commuting to higher paid employment.

Regeneration

The analysis identified a number of negative indicators that point to the town centre being under stress. The low diversity of uses within the Market Square area, a declining footfall and low retail lease values, pedestrian connectivity from the east to west, traffic congestion at peak periods and vacant buildings causing blight, all add up to an under-performing town centre.

Initiatives from phase one

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We have defined a set of investments and initiatives of £5.8 million which will pave the way for the accelerated growth of the town.

For the first time, a holistic range of interventions that will rejuvenate St Neots Town Centre as the linchpin of the Masterplan strategy to bring more industry and local jobs to St Neots.
Plans to boost the future growth of the St Neots manufacturing and KIBS (knowledge intensive business services) sectors, including a commitment from Urban&Civic to accelerate the provision of incubator space on Wintringham Park.
A brand new central bridge alongside an improved riverside area – opening up new spaces as part of a more vibrant town centre.
St Neots becoming the first Smart Town in the country – bringing the digital connectivity programme from our cities to our market towns for the first time.
Establishing a new joint investment vehicle to take direct control over commercial space in St Neots where intervention is needed to unlock prime sites.
Bringing major employers like Kier Group and the St Neots Manufacturing Club together to invest in better provision of skills training and career opportunities to residents.
A comprehensive transport study, linked to the future Metro and Expressway, which will take traffic away from St Neots town centre.