17.03.20
GBSLEP investment passes £180m milestone
Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP) has unlocked over £182m in Local Growth Fund investment since 2014.
Businesses and residents in the area have seen 5764 new jobs created and 1379 new homes made available.
Delivered through GBSLEP’s Growth Programme, the funding supports investments which are positively impacting the economy and local community.
Improvements relating to productivity, connectivity and skills have been made across the region and this new milestone coincides with the news of the regions GVA growth, which saw a 4.9% increase in 2018.
According to the Office of National Statistics, the GBSLEP has recorded a £12.8bn total GVA since 2010, reaffirming its positions as a UK leading economic driver.
Funding support has gone to key growth sectors such as low carbon and energy technologies, life sciences, manufacturing and creative and digital sectors.
£84.3m has been invested through the LEP in low carbon related projects, specifically at Tyseley Energy Park, working to boost green technologies in industry.
Other projects to benefit from funding are the Birmingham Cycle Revolution with a £6m package of support for its 20-year cycling strategy in the city.
Just under £15m was invested in skills-based programmes including the Hybrid Vehicle Training Centre at Solihull College and University Centre.
Tim Pile, Chair of GBSLEP, said:
“We are immensely proud of the contribution we have made to the vibrant economic renaissance being experienced by our region.
"The success is about far more than GBSLEP, it’s down to the hard work and effectiveness of our many partners and the wider business community. The LEP has played its part through our unique collaboration of private, public and academic sectors”
“We’ve been very successful over the last few years and have seen some terrific achievements.
"Our single-minded focus on improving the economy, supporting our key sectors to grow, and enabling local people to access the new jobs that are created is delivering real impact. But there is still much to be done to ensure that everyone benefits from this economic growth.
“We have an exciting pipeline of important projects and I am looking forward to seeing those initiatives flourish over the coming years, further driving our economy forward.”