Blackpool has finally learned it is to receive £300 million of Government money as the consolation prize for missing out on the super-casino. But as the resort’s leaders have been quick to point out, just how much of the money is new?

Communities Secretary Hazel Blears claimed the aid package would provide “a real boost for Blackpool”. On closer examination, most of the funding has already been announced for projects such as improvements to sea defences, new schools and a higher education campus.

Among the sceptics was Labour MP for Blackpool South, Gordon Marsden, who ruefully observed: “It remains to be seen how much the money in that package is actually new and focused money.”

Doug Garrett, chief executive of the resort’s regeneration company ReBlackpool, said there was very little of great substance in Blears’ statement. “This is not a package that says the Government will invest a whole lot in Blackpool,” he said. Quite.

For our Viewpoints round-table discussion in this issue, Lancashire Business View brought together civic leaders and business chiefs to discuss the regeneration of Blackpool.

There was a clear consensus that what Blackpool needs more than anything to become a world-class resort is a new conference facility which can only happen with public support. Blears came up with next to nothing.

Elsewhere in this issue, our In Full View feature puts the spotlight on multi-millionaire Preston businessman Arif Patel, who has made his fortune from textiles and property. He is also one of Britain’s most generous business leaders and is an unlikely backer of Preston North End.

For our regional profile, we go to Bolton and see a town with a big city mentality that is determined to march out of the shadows of big brother Manchester. More than £1 billion is committed to regeneration projects in the town over the next decade, creating up to 20,000 new jobs.

In our Heritage section, we look at how the Lancashire aerospace industry developed with the advent of the second world war and how the future of the jet engine industry was decided at a Clitheroe hotel.

Sector Focus looks at Lancashire’s printing industry and we have our usual features on regeneration, commercial property, the creative industries, training, motoring and awards.

We hope you enjoy our unique blend of news and views on corporate life in Lancashire. Please let us know what you think.