LEPs join forces to bid for growth fund cash
THREE Local Enterprise Partnerships from the West Midlands have teamed up with the Liverpool and City Region group in a bid to secure cash from the Regional Growth Fund.
The Greater Birmingham and Solihull, Coventry and Warwickshire and Black Country LEPs are hoping the combined RGF bid will boost cross-border economic growth and generate employment opportunities.
The quartet has not revealed exactly how much they have bid for though.
The LEPs said they would be working to address the specific needs of advanced engineering and manufacturing, with particular focus on the automotive and aerospace sectors.
The cross-border LEPs are expecting to hear if their bid has been successful in September.
If successful, finances from the joint bid will be utilised to fund capital projects and stimulate business growth among small and medium sized companies.
The size of the fund is £1.4bn over three years and applications are open to the private sector and public/private partnerships.
Andy Street, chair of the Greater Birmingham and Solihull LEP, said: “As a board, we recognise the benefits of LEPs working together to generate the finance and innovation that is needed to develop long-term sustainable growth through private sector enterprise, including social enterprise initiatives.”
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