Businesses shortlisted for share of £458m

Some 43 projects have been shortlisted to go through to the next phase of assessment for the Liverpool City Region Combined Authority’s Single Investment Fund (SIF) of just above £458m.

The funding is being invested in the city region over the next five years by the combined authority as part of the city region’s devolution agreement with the Government.
 
The SIF is the key funding tool for promoting economic growth for the Liverpool City Region, and will support the delivery its strategic priorities as well as unlock the economic potential and accelerate growth.

Applications for support from the fund opened on September 21, 2016. Up to 78 applications with a total value of over £270m were received by the closing date of December 9.  Applications focused on the themes of business growth and sector development, research and development, transport, housing, and regeneration and development and culture.

At today’s Liverpool City Region Combined Authority meeting, 32 projects were approved to go forward to the next step.  The projects will each submit business cases for further consideration in the coming months prior to being given the funding. 

Another 11 projects will be supported to explore alternative funding sources.  Taking into account additional funding available from other sources, it is anticipated that these 43 projects will result in more than £650m of investment in the city region over the next three years.

Mayor Joe Anderson, chair of the Liverpool City Region Combined Authority, said: “We made a strong case to attract this substantial investment in the city region, and we have been working behind the scenes for some months now to invite and evaluate proposals. 

“Today’s announcement is a culmination of that hard work.  The combined authority has done a great job in bring these resources in and it’s now up to the various organisations who submitted successful bids to demonstrate to us that they can deliver.”