20.09.12
£24m additional funding for English LEPs
Local Enterprise Partnerships (LEP) are due to receive an extra £24m over the next three years, the Government has announced.
BIS and the DCLG are to provide an initial £5m funding package for England’s 39 LEPs, followed by up to £250,000 per LEP for the next two years. This funding is to be matched by LEPs.
Business and enterprise minister Michael Fallon, said: “It is crucial we arm Local Enterprise Partnerships with the tools and resources they need to play a prominent role in delivering growth and jobs for their communities. This funding will help LEPs plan for the long term and ensure they can remain locally-led instead of dependent on central government support.
“We need to ensure LEPs remain voluntary business and civic partnerships so they are in the best possible position to deliver sustainable growth and job creation in their areas.
“Already we are seeing LEPs across England delivering innovative schemes in their communities. This financial support will help the partnerships to continue this work.”
Local Growth minister Mark Prisk added that the funding will give LEPs the financial stability they need going forwards.
He said: “If matched by local support, this could mean that up to £45m will be available to help Local Enterprise Partnerships turn their plans into jobs and growth.”
Steve Lamb, chairman of Thames Valley Berkshire LEP said: “We’re very happy that the lobbying of all 39 LEPs has been successful and that the Government has recognised the important role that we play in economic development for our different local areas.”
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