Coventry and Warwickshire seeking £300m from government funding pot
COVENTRY and Warwickshire Local Enterprise Partnership (CWLEP) has submitted its Strategic Action Plan (SEP) to the Government in an attempt to secure £300m over six years to fund local projects.
The LEP has outlined the key projects which it says will create over 50,000 new jobs, build 75,000 houses and invest in transport infrastructure.
Sir Peter Rigby’s final act as chair of the CWLEP was to submit the SEP, which outlines how the private and public sector will work together to turn their plans into reality.
All 39 LEPs across England are bidding for a share of government cash by outlining their economic plans.
Yesterday, LEPs representing the Greater Birmingham and Solihull and Black Country areas submitted their SEPs. The bids – when combined – are seeking £148m in government funding in 2015-16.
The CWLEP bid focuses on manufacturing.
It talks about creating new businesses, encouraging innovation and developing new and existing employment sites with the Coventry and Warwickshire Gateway, Friargate, Lyons Park, Whitley Business Park and Bermuda Park outlined as the area’s top five priorities.
The CWLEP’s newly-formed joint committee and the area’s local authorities have agreed to build a minimum of 75,000 new homes by 2031.
There is also a pledge to invest in the road network, the north-south rail links, the A46 and the redevelopment of Coventry railway station and to continue developing the clearing house which focuses on giving targeted support to businesses and increasing the number of start-up businesses.
Rigby said the SEP has the full support of the public and private sector as well as the area’s MPs following extensive consultation.
“We are keen for the key projects detailed in the SEP to deliver economic growth, housing and improved transport infrastructure to put Coventry and Warwickshire at the heart of the current recovery and its future growth,” he said.
“The SEP enables us to negotiate with the government a Local Growth Deal. It is recognised that the investment requested is significant but the SEP identifies a prioritised set of proposals, projects and powers that have been agreed locally and will enable growth.
“We have identified specific investment in capital infrastructure that is central to local economic growth and productivity.
“Coventry and Warwickshire is very supportive of the Government’s desire to exploit new opportunities in the global economy which are leading towards enticing supply chain companies in advanced manufacturing and engineering to come back to the UK and we will be further exploring ways this can be accelerated in conjunction with UKTI and the Manufacturing Advisory Service.”
The Government will announce the funding allocations in July after considering the proposals of all 39 LEPs.
