Fish market, tech park and freeport get £40m

Torbay Council said more quayside would be created for more fishing vessels to off-load simultaneously

A fish market, a technology park and maritime businesses in Devon are set to benefit from about £40m of government funding.

Torbay Council has been successful in its bid for £20m to extend Brixham Fish Market and develop a high-tech business park in Paignton.

Plymouth City Council has also been awarded about £20m for the Plymouth and South Devon Freeport project.

Both councils had previously made two unsuccessful bids for cash from the government's Levelling Up Fund.

The Plymouth Freeport project has got about £20m in investment from the Levelling Up Fund

Under the fish market plans, land will be reclaimed to extend the harbour and fish market.

Torbay Council said an extra 7,000 square metres of quayside would be created for extra fishing vessels to off-load simultaneously, along with two new auction halls.

The council said the developments could lead to an increase in landed fish value of up to £20m per year within five years, with about 150 additional year-round jobs.

Torbay Council's Conservative leader, David Thomas, said: “There are significant opportunities in the fishing and hi-tech sectors, and these projects will help drive more high-value jobs, as well bringing in high export potential.”

The council said investment in infrastructure and a new production centre at the Electronics and Photonics Production Park would create an extra 275 jobs.

Luke Pollard, Labour and Co-op MP for Plymouth Sutton and Devonport, said he was "delighted" that the city had been successful in its bid.

He said the focus of the investment in the Plymouth freeport project would be "on waterfront regeneration and job creation".

Freeports offer a number of tax and other incentives to encourage firms to invest in the area.