Marches LEP submits Growth Deal bid
Growth deal bid launched by Marches LEP The Marches Local Enterprise Partnership is bidding for more than £102 million of funding to develop priority projects to drive economic growth and create…
Growth deal bid launched by Marches LEP
The Marches Local Enterprise Partnership is bidding for more than £102 million of funding to develop priority projects to drive economic growth and create jobs.
The LEP has submitted its Strategic Economic Plan (SEP) to Government ministers, demonstrating how through accelerated growth the region could see nearly 40,000 new jobs created and more than 70,000 new homes built.
Following a period of consultation on the draft SEP in Herefordshire, Shropshire and Telford & Wrekin, the LEP has included a list of 14 priority projects for 2015/2016. These include major infrastructure projects and shovel ready schemes in the urban centres of Hereford, Shrewsbury and Telford and in ‘opportunity’ towns including Craven Arms, Oswestry, Whitchurch and Ross-on-Wye,
Chairman of the Marches LEP Graham Wynn OBE today thanked key stakeholders, partners and the business community for their contributions to the SEP, which is supported by the region’s three local authorities as well as the private-sector.
“This is our bid for a Growth Deal for the Marches, we are bidding for £102 million of funding which will match with more than £52 million. The SEP sets out our priorities for addressing areas of business need. These range from infrastructure including transport and broadband, education and skills investment and access to small business finance.”
Priority projects include a £33.5m Hereford City Centre Transport Package including a new link road which will provide an additional 680 homes, 410 jobs and £15 million GVA at Edgar Street, which would not be developable without the link road and a £34.7 million transport package for South Wye.
The SEP also details plans for a £17.3 million road junction improvement scheme in Telford to open up additional housing and employment sites, which will support the delivery of 6,920 jobs; a £10 million integrated transport package for Shrewsbury including junctions improvements and traffic management in the town centre and £12m for the Oxon Link Road to link the A5 to the B4380.
The Minister for Cities, the Rt Hon Greg Clark MP, welcomed the LEP’s Strategic Economic Plan and said the Government was looking forward to ‘continued engagement with local civic and business leaders over the next few months’ on the negotiation of the LEP’s Growth Deal.
“The Growth Deal provides a fantastic opportunity for the Marches LEP to seek freedoms, flexibilities and influence over resources from government, and a share of the Local Growth Fund to put towards their the growth priorities set out in this Strategic Economic Plan. This provides the opportunity to unleash the ambition and creativity of the Marches’s local leaders, by devolving resource and responsibility in return for compelling local economic leadership in pursuit of growth,” he added.
Other projects in the pipeline for 2015/2016 include £4.5m to upgrade the electricity supply in Whitchurch; a £5.5m project to upgrade the Dobbies Roundabout on the A5 and the Eastern Gateway project, a £5.2million scheme to maximise the opportunity presented by the JLR site on the M54.
Private sectors businesses including Muller Dairy, in Market Drayton, Persimmon Homes and Bridgnorth Aluminium are supporting the SEP.
Simon MacVicker, managing director of Bridgnorth Aluminium, said the company was a strong investor in the Shropshire and Marches economy.
“We strongly support the Marches Strategic Economic Plan, indeed more than that, we require it to be delivered as we rely on a vibrant skills base and competitive infrastructure in order to compete in world markets.”
Graeme Jack, Group Corporate Communications Director at Muller, added; “As a significant business based in Shropshire, we are very proud of our home in Market Drayton.
“We have grown rapidly and successfully over the last 21 years and we are committed to Shropshire, to growing our business here and to contributing to the communities in which we operate. As such, we support all positive business initiatives for the area and we are supportive of the principles set out in the Marches LEP strategic priorities.”
Tim Brickley, Director in Charge, Persimmon Homes/ Charles Church West Midlands, said: “Persimmon Homes are fully behind the LEP’s plans and urge the Government to back this deal to accelerate growth in the Marches.”
The Marches LEP is one of 39 partnerships in the UK bidding for a slice of a £2 billion Single Local Growth Fund developed to support the regions over the next five years.
Marches LEP Strategic Economic Plan (5.43 MB)
For further information contact Amy Bould at Be Bold Public Relations on 01952 898121, or email firstname.lastname@example.org