£140m extra for LEPs’ Growth Deals
THE region’s Local Enterprise Partnerships have received a total of £141.4m extra funding from the Government to supplement the existing Growth Deals and create jobs.
The largest share of the pot goes to Greater Manchester LEP , which is receiving £56.6m; Liverpool City LEP is the next largest with £31.6m, Cumbria receives £20.9m, Lancashire £17.2m and Cheshire and Warrington £15.1m, taking the overall total for Growth Deals in the region to £1.25bn.
In Greater Manchester the additional funding will allow for further investment in transport; a Skills Capital Programme and investment in the Greater Manchester Business Growth Hub to support services to business.
In addition, the government said it is also committed “in principle” to the use of discounted Public Work Loans Board borrowing to support a new residential development at Manchester Place.
The Liverpool City Region Local Enterprise Partnership’s proposed project pipeline includes a competitive capital investment fund to provide grants and/or loans to individual land, infrastructure and property projects.
It also includes extending the existing Business Growth Grant programme operated by the LEP.
In addition, Liverpool City Region LEP is committed to develop projects eligible for future funding. Candidate schemes include Heron Road to West Kirby access in Wirral, Haydock access improvements and Southport eastern access.
In Cumbria the extra funding will support the Barrow Waterfront Enterprise Zone, where a project involves the improvement of the only large employment site available in Barrow, which will accommodate supply chain firms alongside a major new BAE logistics facility.
Funds will also be provided to the Connecting Cumbria – for the second phase of a superfast broadband roll-out to an additional 5,000 premises over and above the approximately 111,000 covered by Phase 1.
Other schemes to be backed include upgrading the access to the Port of Workington and developing an advanced manufacturing centre at Carlisle College.
The extra £17.2m awarded to the Lancashire LEP for projects between 2016 and 2021 include: The Engineering and Innovation Centre at the University of Central Lancashire campus in Preston; Burnley Visions Park which will maximise the benefits of a new £90m Further and Higher Education Campus by developing a high quality business park; a new bus station and retail development in Rawtenstall Redevelopment Zone; a Business Growth Centre for start-ups by Juction 28 of the M6 at Shady Lane and redeveloping ment of Brierfield Mill in Nelson.
Cheshire and Warrington LEP’s programme includes two transport projects in Crewe at the Crewe Green roundabout and replacing and extending Sydney Road Bridge.
In addition, the extra funding will deliver a new, purpose built “public services hub” in the centre of Ellesmere Port which would bring together the services of up to seven public sector agencies under one roof.
The new hub would release a number of publicly-owned sites around the town for housing development.
Announcing the increased funding, Prime Minister David Cameron said: “Giving local communities the power and the money to unlock growth and development and make the spending decisions that work for them is a key part of our long-term economic plan to secure a brighter future for Britain and ensure a recovery for all.
“And this is happening right here in the North West, with more money announced today for key projects to boost the local economy as part of the multi-million pound expansion of the Government’s Growth Deals.
“And because the money will be in the control of a partnership of local community, business and civic leaders it means it will go on the things that really matter to people and businesses here.
“That is what Growth Deals are all about, backing local people and investing in the infrastructure, housing and skills that will drive forward local economies, create more jobs and opportunities for hardworking people and supercharge all parts of our country.”
