City Deal for Preston
THE government has agreed to grant Preston “City Deal” status which will give it more powers.
It means the city will have more control of transport and skills budgets, and be able to set up infrastructure funds that attract government investment.
The area is one of 20 locations in the second wave of City Deals. The first eight, including Manchester and Liverpool, were approved last year.
Lancashire county council leader Geoff Driver said: “Preston has enormous potential as a focal point for economic growth, but this bid is on a vast scale and it is not just the city itself but the whole of Lancashire that stands to benefit. It also complements our existing programmes for job creation and apprenticeships.
“The City Deal will form the basis for large scale investment in transport and housing, and provide the ideal conditions for companies to invest and create employment.”
The council said it will help create 23,000 new jobs, 15,000 new homes and generate nearly £1bn in economic growth over the next 10 years.
Edwin Booth, chairman of Lancashire Enterprise Partnership, said: “The indications are that this is one of the most advanced of the 20 bids put forward for consideration, which suggests Lancashire could be among the first to capitalise on the benefits of the City Deal.
“The priority now must be to work with government to sign the deal as soon as possible and begin to turn what is an extremely significant proposal into a reality for residents and businesses across Lancashire.”
