Funding

Marches LEP Energy Fund

In 2022, the Marches LEP Board allocated £4million of funding to support projects that could meet the priorities set out in the Marches Energy Strategy. This represented a significant investment in energy projects by the LEP and arose in response to a recognition of the need to invest in energy efficiency and generation to help support businesses across the region.

The LEP is supporting 3 projects through the fund:

• Marches Energy Network Monitoring with National Grid Energy Distribution
• Herefordshire Low Carbon Technology Centre
• Marches Energy Grant

Growth Deal

More than £104 million is currently being invested into the region’s economy to create thousands of homes and jobs thanks to the Marches Growth Deal. The latest funding was announced in March 2017 providing a boost of £21.9 million for the Marches with a focus on innovation and skills, to help create jobs, support businesses and encourage growth.

Getting Building Fund

Getting Building Fund is a £900 million programme announced by Government in August 2020 to deliver jobs, skills and infrastructure across the country.

Midlands Engine

In March 2017, the Midlands Engine Strategy was launched as a demonstration of the government’s commitment to making the Midlands a powerful engine for economic growth. The Marches covers a huge swathe of the Midlands Engine region, which stretches from Shropshire in the west to Lincolnshire in the east and is home to a £217.7 billion economy.

EU Structural and Investment Fund

The Marches region has been allocated approximately £95 million of EU funding for projects being developed and delivered between 2014 and 2020.

Marches Investment Fund

The Marches Investment Fund is a capital fund derived from an initial £8.1m through Government Growing Places Fund allocation, a proportion of any local profit share from the Telford Land Deal and annual repayments and interest from MIF private-led loan schemes.