The Sheffield City Region’s Growth 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.
At the heart of the plan is the creation of 70,000 new private sector jobs and 6,000 new businesses.
Based on the strength of its Growth Plan and straightforward approach to partnership working, the Sheffield City Region has agreed two ‘Growth Deals’ with Government which have a combined value of £350 million of Government investment up to 2021. These Growth Deals cover the key themes of business growth, skills, infrastructure and transport.
The City Region is now delivering these transformative Growth Deals in accordance with its Assurance Framework.
As part of each meeting the Sheffield City Region Combined Authority considers and agrees projects to receive this funding and also gets regular updates on delivery performance. Combined Authority papers can be accessed here: http://www.southyorks.gov.uk/
The cash boost for Sheffield City Region will go towards supporting over £600 million worth of infrastructure projects, including improvements to Sheffield City Centre, transport links to new housing and employment sites in Dearne Valley and an extended airport link road to Doncaster-Sheffield Airport. The overall package will be a huge boost for the Sheffield City Region LEP, allowing its recently developed seven year economic strategy to become a reality.
The new funding will also enable the City Region’s leaders to create a £130 million Skills Bank, which will provide training for 40,000 people in the Sheffield City Region, including between 5,000 and 7,500 apprentices.
£50 million of the funding will mean that the LEP can extend its highly successful business investment and support programme and create 4,000 new jobs for local people.