LEP granted additional £17m funding

The Lancashire Local Enterprise Partnership has agreed an expansion to its Growth Deal with the government which will see an extra £17.2m invested in the county between 2016 and 2021.

Over the lifetime of its deal (2015-2021) the Local Enterprise Partnership estimates that up to 8,000 new jobs could be created, 3,000 new homes built and that it has the potential to generate £280m public and private investment.

In addition the government is also committing in principle support for an Advanced Engineering & Manufacturing Exploitation Centre, which will support the strengthening of SMEs through access to new technology and innovation for key sectors including for the emerging unconventional oil and gas sector. The funding for this project will be confirmed through future growth deals.

“And this is happening right across Lancashire, with more money announced today for key projects to boost the local economy as part of the multi-million pound expansion of the government’s Growth Deals.

Deputy prime minister Nick Clegg added: “A quiet revolution is underway in Lancashire and across the country, as Growth Deals signal the death of the culture where Whitehall calls the shots. I’ve seen for myself the difference it makes to give Lancashire more power over skills, over business support, over infrastructure spending." The LEP Chair Edwin Booth said: "We are building a hugely significant economic programme, which will deliver new investment, employment and housing growth opportunities in Lancashire. The expansion to our Growth Deal announcement represents a further vote of confidence in the work of the LEP and its local partners."