£250m Lancashire Growth Deal celebrates one year anniversary

Twelve months on from The Lancashire Enterprise Partnership (LEP) officially signing up to central government’s Lancashire Growth Deal, a £250m development fund designed to transform the county, all major projects are on track.

The initial £234m Growth Deal Fund, one of the biggest ever negotiated with government, was first announced in July 2014 before being increased by a further £17m last January.

In the process it will help to create 8,000 new jobs, 3,000 new homes and will further generate £280m of new public and private investment.

Major infrastructure developments underway, or already completed, include the Blackburn - Bolton Rail Corridor, Broughton Bypass near Preston which is a key part of the LEP’s City Deal initiative, Centenary Way Viaduct improvements in Burnley and the Hyndburn Burnley Pendle Growth Corridor.

The Growth Deal also features a major package of works in Blackpool including the Lancashire Energy HQ at Blackpool & The Fylde College, an extension to Blackpool tramway, a new heritage visitor attraction at the Winter Gardens and the development of Blackpool town centre ‘Green Corridors’.

Commenting on the progress, Edwin Booth, chair of the LEP said: “The diverse mix of schemes being delivered through this £250m transformational programme of activities reflects that our Growth Deal priorities are fully aligned to those in the LEP’s Strategic Economic Plan for Lancashire, and complement the work being undertaken through the £434m City Deal for Preston and South Ribble.

Graham Cowley, chair of the LEP’s Growth Deal Management Board, added: “When we officially signed up to the Growth Deal a year ago the sheer scale and volume of projects being green lighted demonstrated a new approach in Lancashire to driving forward economic growth.