Member Article

Sheffield City Region signs £325 million Growth Deal with government

Nick Clegg, Deputy Prime Minister, will today join up with council and business leaders from across Sheffield City Region to sign a £325 million Growth Deal.

In July, the Local Enterprise Partnership (LEP) secured the landmark £325 million Growth Deal for Sheffield City Region, which will create over 28,000 jobs and training for 40,000 people.

The Deputy Prime Minister will meet with leaders from the Sheffield City Region including LEP Chairman James Newman and Combined Authority Deputy Chairman Councillor Eion Watts.

The Deputy Prime Minister, who chairs the Local Growth Cabinet Committee said:“We are ending a culture of Whitehall knows best. Decisions over spending on infrastructure, business support and housing are being made at a truly local level.

“Instead, we are placing the power and money in the hands of the people who know how to spend it best, making a real difference to Sheffield City Region.

“This Growth Deal will create thousands of jobs, provide incredible new training opportunities for young people, build thousands of new homes and improve transport links for everyone - building a stronger economy and a fairer society.”

James Newman, Chairman of Sheffield City Region LEP, said: “Signing our deal with the Deputy Prime Minister marks an important milestone in the process of taking control of our local economy. This deal will unlock millions of pounds of investment to grow the Sheffield City Region economy and create jobs.

“The Sheffield City Region LEP achieved the fifth biggest deal with Government of all areas in England. We achieved this because our leaders worked closely together to put forward a very compelling offer.

“However, this is only the first small step on a journey to take control of our City Region’s economic destiny.”

The Growth Deal has been achieved as a result of the LEP’s Strategic Economic Plan (SEP) to Government which set out plans to transform the local economy over the next decade. At the heart of the plan is the creation of 70,000 new private sector jobs and 6,000 new businesses over the next ten years.

The funding secured by the Growth Deal will facilitate over £600 million of infrastructure schemes, including improvements to Sheffield City Centre, transport links to new housing and employment sites the Dearne Valley and a link road to Doncaster-Sheffield Airport.

It will enable the LEP to create a £130 million Skills Bank, which will provide training for 40,000 people in the Sheffield City Region, including between 5,000 and 7,500 apprentices.

The funding will also be used to upgrade further education facilities and build a brand new British Glass Academy.

The Growth Deal will also mean that the LEP can extend its business investment programme which will create 4,000 new jobs for local people.

Earlier this month, Sheffield City Region Local Enterprise Partnership (LEP) wrote to Government to officially ask for an additional £38 million to further boost economic growth and create jobs in the area.

This additional £38 million would enable the LEP to progress a range of initiatives more quickly and effectively, as well as adding some additional projects to its arsenal of activity aimed at boosting economic growth and creating jobs in the City Region.

This was posted in Bdaily's Members' News section by Clare Burnett .