Local Growth Fund
The Sheffield City Region’s Strategic Economic Plan sets out the shared ambition of local authorities and businesses to transform the local economy and build a truly competitive centre of business excellence.
Sheffield City Region has negotiated a series of ‘Growth Deals’ with Government which taken together with other funding streams totals around half a billion of new investment. This funding is known as the Local Growth Fund.
Programmes of activity within the Local Growth Fund comprise:
- Sheffield City Region Infrastructure Fund to unlock 70,000 jobs and 13,000 new homes
- Skills capital fund to invest in state-of-the-art training facilities and equipment across the city region.
- Sustainable Transport Exemplar Programme to promote cycling, walking and public transport across the city region
- Business Investment Fund to help unlock business and jobs growth
- Revenue support to deliver a city region wide business growth support service, the Skills Bank and a Disadvantaged Learner pilot
- Enterprise Zone Accelerator Fund to help unlock commercial build out on our Enterprise Zone sites
- An investment to speed up delivery of the rail replacement programme for Sheffield’s Supertram network
- Midland Mainline Improvements to reduce the journey time for non-stop passenger and freight train services between London and Sheffield City Region.
Every project that secures funding is assessed in line with the private sector led Local Enterprise Partnership Boards economic priorities and then are rigorously scrutinised in accordance with our city region Assurance Framework.
All decisions are then formally approved by the Combined Authority.