Member Article

£290 million Growth Deal to create thousands of jobs in the North East

The North East Local Enterprise Partnership has secured £290 million investment which will create thousands of new jobs for the North East.

The investment is part of the government’s Growth Deal, which was announced Monday 7 July, and provides the North East with a significant funding to take forward its plans for economic growth.

The substantial investment which will create over 4,000 new jobs and deliver £90 million in additional public and private sector funding, is clear recognition from government of the North East’s ability to work in partnership and achieve its ambitious plans.

The £290 million, which is the third highest allocation in the country, will support projects that were set out in the LEP’s North East Strategic Economic Plan ‘More and Better Jobs’.

The plan, which builds on from Lord Adonis’s North East Independent Economic Review and was developed with local partners and businesses, provides a comprehensive plan to create sustainable and inclusive growth for the North East.

The North East’s Growth Deal will provide funding for each of the themes within the economic plan investing in projects around innovation, skills, business support, transport, developing economic assets and supporting inclusive growth.

On top of the investment the deal also includes a commitment from government to work with the enterprise partnership to bring forward plans around improving educational attainment and developing a new development and infrastructure fund for the North East.

This was posted in Bdaily's Members' News section by Ellen Forster .