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It comes on the day the government publishes its vision for a modern Industrial Strategy that builds on the UK’s strengths, closes the productivity and wealth gap between different regions and spreads growth more evenly across the country.
This latest award of Local Growth Funding is on top of £264 million of Growth Deals funding already awarded to the City Region. This total investment could see 15,400 jobs created, 10,000 homes built and attract £249 million extra investment over the next five years.
The money will be invested in projects to:
Sajid Javid announced the funding during a visit to Wirral Metropolitan College which previously received £2m of Local Growth Funding to create a new science, technology, engineering and manufacturing (STEM) centre.
During the tour, the Minister saw new state-of-the-art facilities – including a forklift truck simulator and robotics kit – and the apprentices who are benefiting from the facilities and developing their skills.
Secretary of State for Communities and Local Government, Sajid Javid, said:
“As part of efforts to deliver an economy that works for everyone, the government is devolving powers and resources directly from Whitehall to local people who know their areas best.
“Across the Northern Powerhouse local people will benefit from £556 million of extra investment thanks to these Growth Deals.
“This is great news for Liverpool City Region that will help transform the way we work, the way we learn and the way we do business. There are challenges we need to face but this announcement will help us be more ambitious about our national and international successes, using our unique assets, location and capabilities to combine the strength of the Northern Powerhouse. Today’s announcement demonstrates the excellent local delivery partnerships, driven by the public and private sector effectively working together, ensuring maximum impact and value for money for our City Region.”
Welcoming the announcement, Asif Hamid, Interim Chair of the Liverpool City Region Local Enterprise Partnership, said:
“We have massive ambition and opportunities for growth in our City Region and a clear, collective view of how this can be achieved, as set out in the City Region Growth Strategy agreed with the Combined Authority earlier this year. This latest round of Local Growth Deal Funding from Government means that this ambition can now be translated into effective action and we look forward to supporting our Combined Authority colleagues and other partners in building on the City Region’s core strengths and capacity for innovation to create a truly global and competitive City Region at the heart of the Northern Powerhouse.”
Alongside our historic devolution deals – one of which meaning that Liverpool City Region benefits from a potential extra £900 million investment over the next 30 years and a range of new powers – the £12 billion Local Growth Fund equips local leaders with the cash they need to invest in and support locally determined projects.
Under the Fund, England’s 38 Local Enterprise Partnerships – made up of council leaders and business representatives – bid for investments based on local priorities.
Bids are highly competitive and to be successful, Local Enterprise Partnerships need to work with partners to agree strong and accountable governance and put forward proposals that boost growth and bring in private sector funding.
In Liverpool City Region this has already:
Now this latest allocation of £1.8 billion of government investment – including £72 million in Liverpool City Region – will help do even more to benefit the lives of local people across the country.
This is a part of government efforts to build a Northern Powerhouse to help the great cities and towns of the North pool their strengths and take on the world. Step by step we are making the Northern Powerhouse a reality with over a million businesses involved, foreign direct investment up by a quarter and 187,000 jobs created in the past year alone.
Across the Northern Powerhouse local people are set to benefit from £556 million of investment, with Liverpool City Region receiving £72 million to spend on projects to:
