THE South East Local Enterprise Partnership has welcomed the announcement today (Wednesday) that it is to receive an additional £672,000 under the government’s Growing Places Fund.
Ministers today confirmed the regional allocations of the £500milllion fund, which is designed to boost economic growth by getting the required infrastructure built to enable the creation of new homes and jobs and get stalled projects moving again.
As a result of changes to the formulae used to allocate the funding to Local Enterprise Partnerships, the South East LEP will now receive just over £33 million. This is an additional £672,552 on top of the allocation originally announced last November.
The South East LEP will consider a shortlist of schemes for funding and an announcement on the first tranche of allocations will be made on the successful projects in the next few weeks
South East LEP Chairman, John Spence, said “This funding will help provide a shot in the arm for the economy of the South East and therefore the whole country.
“It is right that the government supports the businesses and local authorities from across the South East LEP to develop local solutions for local challenges. The LEP will add value by prioritising the schemes which have optimal impact on enterprise and growth for our area and the country as a whole.
“We are clearly geared up to put this funding to work as quickly as possible and will respect the principles of subsidiarity in ensuring that our local partners – both private and public sector – use it to drive real growth across the LEP.”