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6 September 2011, 11:47 | Updated: 6 September 2011, 12:08
A company that was planning to bring around 400 new jobs to an old Norfolk RAF base has withdrawn their interest in the site.
TAG Aviation was planning to take over part of the former RAF Coltishall but has now decided to pull out of the project.
They would have been using the site to decommission old commercial airliners.
Cllr. Trevor Ivory, District Council Member at North Norfolk DC, said, "We are very disappointed by this news. The TAG proposals offered an aviation use of the site that would have brought about 400 new jobs, many of them skilled, to the area and offered the opportunity to retain the military buildings. NNDC had been doing everything possible to support the project but I understand TAG cannot secure the necessary funding.
"The new Conservative administration has already made jobs a top priority for the District and we shall now work with the Ministry of Justice, which owns the site, to find another use that creates quality jobs and boosts the local economy."
The base closed in November 2006.