£60m boost for LEPs from Growing Places fund

LOCAL Enterprise Partnerships in the North West will share more than £60m in new Government funds to help kickstart building projects that could boost the regional economy.

The money is from the Coalition’s new £500m Growing Places Fund and can be used for schemes such as new roads and flood defences to open up land for development.

LEPS have today been told how much money they could receive and must now submit proposals on how they would spend it.

The Greater Manchester LEP is in line for the biggest share in the region at £24.7m while the Liverpool City Region has been allocated nearly £13m.

The Lancashire LEP will have the chance to secure £12.9m while the Cheshire and Warrington LEP is likely to receive £8.8m and the Cumbria LEP £4.4m

Communities Secretary Eric Pickles said: “The £500m Growing Places Fund will unlock much-needed local infrastructure and get the homes we need built. It will be local enterprise partnerships, made up of the people and businesses who know their local areas best, who will decide where this cash boost will be spent.

“I now want to see these partnerships coming together and finding innovative ways to unlock local sites and help get Britain building again.”

LEPs could use their Growing Places money to help support new building by funding access roads with developers repaying the cash so it can be reinvested.

Transport Secretary Justine Greening said: “Transport is key to unlocking growth. The Growing Places fund will let communities provide the transport links that get people and businesses from A to B.

“This will be crucial in building the balanced and dynamic economy that is essential for our future prosperity.”