More than £83 million is currently being invested into the region’s economy to create thousands of homes and jobs thanks to the Marches Growth Deal.
The LEP negotiated the deal to secure support from the Government’s Local Growth Fund which has seen £12.8m already going to key projects in Telford, Shrewsbury and Hereford.
These projects will deliver up to 6,000 jobs and 3,000 homes. Nearly £42m has been earmarked for follow-on projects across the wider Marches region over the following five years.
In 2015, the LEP also negotiated Growth Deal 2 which saw £7.7m invested in the region to support the rollout of superfast broadband.
The latest award of Growth Deal 3 funding was announced in March 2017 providing a boost of £21.9 million for the Marches to help create jobs, support businesses and encourage growth through the following projects.
- The New Model in Technology and Engineering University, Herefordshire
- Newport Innovation and Enterprise Package, Newport, Telford & Wrekin
- Centre for Cyber Security, Rotherwas, Herefordshire
- Investing in Our Future Workforce, Marches-wide skills project
- Redevelopment of the Flaxmill, Shrewsbury, Shropshire.
The projects focus on three key areas, infrastructure, broadband and skills and you can find individual profiles of current projects on each of the below pages.