Preston ponders city deal
Preston has been invited by the government to bid for City Deal status, which will open up channels of cash and control to improve business and create jobs.Preston is likely to bid for City Deal status, which could earn £1bn in investment and create as many as 20,000 new jobs over ten years.
Lancashire County Council and Preston City Council are working together on the bid after it became one of 20 regions invited to pitch by the government.Now the councils have until January 15 to submit their proposals, which are likely to include improvements to road networks and infrastructure, as well as the building of 15,000 new homes.
Lancashire County Council chief executive Phil Halsall estimates that securing city deal status could mean an additional 50,000 jobs in surrounding areas such as East Lancashire and Fylde, whilst the Lancashire Economic Partnership has also supported the bid. The successful City Deal applicants will be notified in March.