14.11.13
Growing Places brings £2.6bn local investment
Government funding has secured £2.6bn of extra investment for local growth, the latest figures from the Growing Places fund show.
Local growth minister Kris Hopkins announced that the £650m of government funding has achieved £1.8bn of private investment for 305 local projects to transform areas into “prime economic sites”.
Projects include building access road and infrastructure, redeveloping shopping centres and developing new advanced manufacturing technology. Over half of all projects are already in construction and over 100 are funded with private sector money first.
Hopkins said: “I believe that local economies should be led locally, with a focus on bringing private sector investment right across the country. That’s why we gave local enterprise partnerships not just the money but the powers to end their dependency on Whitehall and drive their own economies.
“I am pleased to see them using this funding with energy and imagination to support businesses, create jobs, and make all regions of Britain a great place to do business.”
David Frost, chairman of the Local Enterprise Partnership Network said: “The Growing Places Fund has been instrumental in unlocking key investment sites across England, ensuring that much needed local growth is brought forward. This unique nature of the revolving fund has enabled local enterprise partnerships to focus on key local projects.”
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