LEPs set to help build recovery with £900m of New Deal’ projects
LEPs have received a £900m cash boost from the government to fund ‘shovel-ready’ projects in England that will help stimulate local economic recovery and create jobs.
The money will enable local areas to invest in priority infrastructure projects to drive local growth and jobs, including the development and regeneration of key local sites, investment to improve transport and digital connectivity, and creating innovation and technology centres that build on local strengths and opportunities.
The funding allocation is part of an advance of £5bn of capital investment projects across the country in support of economic recovery and jobs that was recently announced by the Prime Minister.
LEPs will now work with government and Local Authorities in the coming weeks to identify the specific projects that will proceed from a short list of ‘shovel ready’ plans they submitted to government.
The full list of ‘Getting Building Funding Allocations’ is at Annex B below.