That funding is already making an impact with work on a new hotel due to start shortly and plans progressing for a new Digital Skills and Innovation Centre as part of the Abbey Street regeneration scheme.
Jones, who is currently Minister of State at the Department for Levelling Up, Housing and Communities (DLUHC), was speaking at a meeting of the Coventry and Warwickshire Chamber of Commerce’s North Branch meeting.
He said: “Traditionally Nuneaton was a large market town that was very active and vibrant, and had leading national retailers based here.
“Clearly the retail market has changed completely in the last 10 to 15 years and that has been accelerated through the Covid crisis.
“Nuneaton needs help and the only way to increase the dynamism at its heart to make it a place where people went to live, work and visit.
“This injection of funding is not a once-in-a-lifetime opportunity – it is a-once-in-a-century opportunity.
“The plans are extremely exciting but they are also not the end. They will establish a momentum and once people see real change being delivered than it will encourage more companies and people to invest.”
Dawn Dawson, Director - Regeneration and Housing at Nuneaton and Bedworth Borough Council, brought local businesses up to date with how plans are progressing.
Tom Mongan, chair of the branch and also Chamber President, said: “It is great to see the plans and while they will take time to come to fruition, it is vital that local people and businesses are kept aware of the progress that is being made.
“It is in everyone’s interest for the town centre and the rest of the borough to be successful.
That can only be a good thing in terms of attracting inward investment and creating new jobs and wealth for local people.”
Pictured (left to right): Tom Mongan, Marcus Jones MP, Dawn Dawson