Cheshire and Warrington Local Enterprise Partnership (LEP) has been provisionally awarded £8.75m by the UK Government under its new Growing Places Fund.
The £500m national fund has been set up to kick-start developments that are currently stalled by delivering key infrastructure and so helping to create new, sustainable jobs.
LEPs will take a lead role in managing the funds and local areas will be able to determine their infrastructure priorities and allocate the funding accordingly.
“We already know the schemes which could benefit from this funding, but we also know we can’t fund them all,” said Chair of the Cheshire and Warrington LEP, Christine Gaskell. “We will introduce a rigorous appraisal process to make sure that we generate the maximum economic impact for this programme and deliver the best value for money for tax payers. The LEP will only back those projects with the best chance of success.”
Councillor Mike Jones, Leader of Cheshire West and Chester Council and speaking on behalf of the three local authorities added: “It is very encouraging that the Government has allocated this funding to LEPs, demonstrating their confidence in LEPs to prioritise projects for creating prosperity.
“It shows that the Government trusts the new LEPs to make important investment decisions to help generate new jobs and prosperity for the people of Cheshire and Warrington”.
Prior to the Government transferring the money it will want reassurance that the appropriate financial governance and appraisal methodology are in place.
In October 2010, The Government has approved 24 bids for new Local Enterprise Partnerships, including from Greater Manchester, Liverpool, Cumbria, Cheshire, Warrington, Birmingham and Coventry.
Any conference-related news? Email sarah@mashmedia.net
