The Communities Secretary said the deals would boost the chances of areas securing significant inward investment from overseas – he will today chair an historic summit with Chinese regional leaders to highlight the opportunities available across the country.
Under the Growth Deals, England’s 39 Local Enterprise Partnerships – made up of council leaders and business representatives – will be able to apply for a share of £1.8 billion to support projects in their areas that boost local economic growth and create jobs.
The money forms part of the government’s £12 billion Local Growth Fund, which is already being used to support successful projects – chosen by communities themselves.
Communities Secretary Greg Clark said: “We’re completely changing the way business is done in this country, ending the top-down, ‘Whitehall knows best’ mentality of the past and instead putting power back where it belongs – in the hands of local communities.
“With this offer of a Growth Deal to communities across the country, we’re backing this devolution revolution with billions of pounds, releasing vital investment in projects across the country to boost local skills, deliver new homes and create jobs.”