The transformation of Whitehaven Bus Station in West Cumbria from a derelict plot to a thriving hub of entrepreneurship and innovation has been hailed as a major success story for the region. Five years on since its £5.4 million redevelopment, spearheaded by BEC and backed by Sellafield Ltd's social impact programme, The Bus Station has become a driving force behind local economic growth.
The project, which received crucial funding through the Nuclear Decommissioning Authority (NDA), has not only created over 80 jobs but also attracted a range of businesses to the area. The addition of 'The Peddler', a 120-seat restaurant, and other commercial ventures have boosted footfall in the town centre by an estimated £350,000 annually.
According to ONS labour market data, the West Cumbrian economy has been experiencing steady growth since the project's inception. With an estimated annual turnover of over £350,000, The Bus Station has demonstrated its ability to generate significant revenue for local businesses and residents alike. Meanwhile, the 70% of construction expenditure retained within the region underscores a commitment to supporting the local supply chain.
The Barclays Eagle Lab at The Bus Station has been instrumental in driving growth, providing vital support and resources to new and established businesses. Since its launch, it has supported 59 start-ups and growing companies, creating 62 jobs and facilitating access to over £1.5 million in funding. Its on-site Maker Space has also enabled the development of 197 prototypes, welcoming more than 7,000 visitors to the site.
Euan Hutton, CEO of Sellafield Ltd, praised the project as a shining example of their social impact programme's success in unlocking regional opportunities. "We're proud to have played our part in transforming this disused space into a thriving hub for business growth and innovation," he said. John McAllister, Ecosystem Manager at Barclays UK Innovation Banking, echoed this sentiment, highlighting the Eagle Lab's role as an 'engine for business growth' that connects businesses with vital networks and support.