West to receive £52.8 million economy boost
Communities Secretary Sajid Javid has announced a government cash boost of £52.8 million for the West of England to help create jobs, support businesses and encourage growth.
The funding will be distributed by the Local Enterprise Partnership which brings together the four local authorities with large and small businesses to order to identify local economic priorities and lead economic growth and job creation within the local area for the benefit of our communities.
The previous £230.7million Growth Deal funding is being matched by £180m of additional investment from local partners and the private sector to create at least 6,000 jobs
Sajid Javid said: “We are putting local people in control and backing them with the powers and resources they need to reach their potential.
“Today we’re investing an extra £52.8 million on top of the £230.7million we’ve already provided to local people -money which will create thousands of jobs, boost business and support growth right across the region.”
Stephen Robertson, Chair of the West of England LEP said: “Through the previous Growth Deals we have already delivered projects including the completed Weston College Future Technology Centre and the University of England Robotics Centre, alongside many other exciting projects coming soon. We continue to focus on transport, innovations and skills, reducing barriers to growth and maximising shared investment opportunities.”
The West of England is an economic powerhouse which drives other parts of the UK economy. Our local economy is worth over £33 billion a year and the West of England is a net contributor to the national economy, returning £0.6bn per annum to the Treasury. Previous Growth Deal funding has played an important role in attracting further funding and anchoring opportunities in this region.
More patents are registered here than in any other part of the country and we have a high level of business start-up success, with a strong track record in knowledge-based businesses, advanced engineering and aerospace.