Member Article

North East LEP secures £17m funding

The North East Local Enterprise Partnership has secured a £17 million funding boost.

The cash, from the Governments Growing Places Fund, will help to drive economic growth and create new jobs in the region.

It will now go towards helping businesses across Durham, Gateshead, Newcastle, North Tyneside, Northumberland, South Tyneside and Sunderland.

Paul Woolston chair of the Local Enterprise Partnership commented: “This new resource is timely and demonstrates real faith in the LEP to manage and deploy funding in line with the LEP’s strategic priorities of growing key sectors and strengthening infrastructure.”

The funding will also be used to unlock housing and economic development schemes, and recognises the challenges associated with funding infrastructure under the current financial climate.

Mr Woolston continued: “We will be inviting interested parties to submit proposals to the LEP that fit with our criteria and the aim of the Board to see the funding used in order to accelerate economic opportunity and generate a rolling investment fund.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .