On 25 February 2026, Hertfordshire Futures announced a £4 million investment to help small firms grow in Watford, Hertfordshire. This funding will create new workspaces and training opportunities to help local entrepreneurs stay and work in the town.
The money is being split between two main projects designed to support different types of businesses. Half of the funding will go towards a new business hub inside the restored Town Hall, while the other £2 million will help build the first phase of an industrial site on Colne Way.
The business hub, officially called the Watford Innovation and Incubation Hub, will be managed by Co-Space. According to Watford Borough Council, the project will provide over 1,600 square metres of office and research space for new startups.
The second project is known as The DomeWorks and will be led by the non-profit group Wenta. This development will provide over 2,200 square metres of space for manufacturing and small factories to address a local shortage of industrial land.
Watford has lost roughly 15,000 square metres of workspace in recent years, forcing some businesses to look for premises in London or neighbouring counties. By providing these new facilities and mentoring, local leaders aim to ensure that successful firms can expand without having to leave the area.
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