Telford council to borrow £30 million in bid to bring business to town
0 Comments Telford & Wrekin Council wants to borrow the money to spend on land and property and to build bespoke premises for businesses.
It is hoped that it will bring in income to the council of £3 million a year, reduced to £1 million after loan repayments.
As business in the borough grows, the council expects further income from an increase in business rates.
The move – which would see the authority’s Growth Fund extended from £20 million when it was established last year to £50 million – will be discussed by the council’s cabinet next week.
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