LEP submits competitive bid to Government for newly available funds supporting devolved regions
This week, Sheffield City Region Local Enterprise Partnership (SCR LEP) has submitted a strong and competitive proposal to the UK Government to apply for £156 million to support its long-term plans to foster the very best economic environment which will support the creation of new jobs and the building of businesses.
The application is to the third round of funding made available to LEPs and in this round the Sheffield City Region will be in competition with 38 other LEP for a share of a total national investment ‘pot’ worth £1.8 billion.
SCR LEP has been successful at securing funding in the past because it has clearly shown how it will effectively use devolved funds to unlock growth and create jobs. This bid, like the two previous successful ones, has been true to the vision of the Sheffield City Region Growth Plan; to meet the shared ambitions of local partners committed to working together to create 70,000 new jobs and 6,000 new businesses over the next decade.
Sir Nigel Knowles, Chair of the Sheffield City Region LEP, said:
“Our bid clearly sets out what we need to continue to transform the local economy over the next few years. This funding will help us to build on our successes to date which have already created or safeguarded 4,330 jobs, unlocked over £200 million of private sector investment, generated 2,500 apprenticeships and upskilled 1,700 employees.
“I am confident that this bid will be well received by Government officials as they continue to take steps to devolve powers and funding to enable us to make our Growth Plan a reality. Our vision is ambitious and we are determined to hit our targets – this latest bid is the latest important step we are making in order to create 70,000 jobs and 6,000 new businesses in just ten years.”
This latest submission presents the case for £156 million from central Government from 2018 to 2021.
The bid makes a strong argument for:
- £107 million to invest in local infrastructure in the priority areas of the Advanced Manufacturing Innovation District and Doncaster Sheffield Airport. This investment will unlock 12,500 jobs, 6,600 home, £220 million of private sector investment and an economic boost of £2.7 billion.
- £20 million to invest in sustainable transport which will includes initiatives to increase the numbers of people cycling to work, improve park and ride facilities and improve key bus routes
- £28 million which includes investments in a National Institute for Infrastructure and specialist training facilities in advanced manufacturing and material in Sheffield and engineering and logistics in Doncaster
- £1.5 million to help disadvantaged people aged 19 to 24 people by providing specialist learning and key worker support.