Government to create local growth and jobs

Government to create local growth and jobsLocal leaders wanting to boost skills, support business and build more homes will be offered the chance to apply for the latest round of Growth Deals worth billions of pounds, Greg Clark said today.

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.”

Enterprise Zones to benefit from £40m funding injection

Businesses to benefit from Enterprise Zone Business Rates SchemeBusinesses moving to Enterprise Zones will benefit from improved access and even better facilities after a funding boost of more than £40 million from the Government.

The money is part of the Government’s £12 billion Growth Deals to fire up local economies and is on top of the £195 million that benefited Enterprise Zones during the first round of deals last July.

It means a total of 17 Enterprise Zones have benefited from more than £235 million through the programme.

Growth Deals are a revolution in the way our economy is run. For the first time ever, infrastructure, housing, and other funding has been brought together in a single pot, and put directly into the hands of local authorities and businesses to invest with their knowledge of what is needed in their area to maximise their potential economic growth.

Local Growth Minister Penny Mordaunt said: “Enterprise Zones are playing a vital role in driving forward our economy. That is why we have invested an extra £40 million to make sure these sites continue to flourish and attract the kind of top-class companies that create high quality jobs.

Through the Government’s £12 billion Growth Deals we are placing the power and money in the hands of the people who know how to spend it best and investing in projects which will make a real difference to local communities.”

Enterprise Zones are central to the Government’s plans to rebalance the economy. The 24 enterprise zones are at the heart of the Government’s ambitious long-term economic plan. They have created over 12,500 jobs, attracted 434 new businesses and generated over £2 billion worth of private investment since opening for business.

New funding to boost growth and jobs in Gloucestershire

New funding to boost growth and jobs in GloucestershireTransport Secretary Patrick McLoughlin has visited Gloucestershire to announce how £15 million of investment will help create jobs and growth in the county.

The announcement is the next phase of Local Growth Deal funding which will help create 6,000 new jobs and provide 400 new homes in Gloucestershire.

The announcement comes after the government and all 39 Local Enterprise Partnerships agreed to expand the growth deals that were struck last July.

This funding is devolved from central government to Local Enterprise Partnerships and will fund the projects to be delivered by local authorities, businesses, colleges and universities.

They will use it to help train young people, create thousands of jobs, build new homes and start hundreds of infrastructure projects, including transport improvements and superfast broadband networks.

During his visit to Gloucestershire the Transport Secretary saw how multi-million pound funding will regenerate the Blackfriars and Quayside area in the heart of Gloucester and promote Gloucestershire’s renewable energy, engineering and nuclear skills along with other projects spanning aviation and retail.

Patrick McLoughlin said: “This £15 million funding will make a lasting improvement to Gloucestershire’s economy. Providing investment for the county to drive its own growth and job creation forms a major part of this government’s long-term economic plan.

The projects will provide the businesses, housing and skills that will build on the economic strengths already evident in Gloucestershire.”

The Growth Deals – which see a total of £1 billion allocated to local partnerships – bring funding for infrastructure, housing, and other projects together in a single pot and put directly into the hands of local authorities and businesses.

They can then invest based on their knowledge of what is needed in their area to maximise the potential for economic growth.

Deputy PM seals £357m Growth Deal for the Midlands

Nick CleggThe Deputy Prime Minister, Nick Clegg, has signed a historic Growth Deal for Birmingham and Solihull, bringing over £357 million of investment to the region to support economic growth.

The Growth Deal will help to deliver at least 13,000 jobs, allow up to 4,000 homes to be built and up-skill 7,633 people by 2021, as well as generating up to £80 million in public and private investment.

In addition, the Regional Growth Fund is providing £1.8 million towards a £17 million investment which has enabled HydraForce UK to build a new, bespoke 120,000 square-foot factory in Birmingham.

This will create and safeguard almost 200 long-term jobs while generating upwards of 100 jobs in HydraForce’s supply chain.

The Deputy Prime Minister confirmed other Regional Growth Fund awards, including Dana UK Axle, which has secured a £1 million grant to increase capacity and install cutting-edge technology, creating 400 jobs in high-tech manufacturing.

Sertec Group Holdings secured a £1.425 million RGF grant to help deliver its project to invest in new stamping equipment and robotic welding cells at their plants in Aston, Coleshill and Tyseley. This will lead to 200 new jobs.

The Deputy Prime Minister Nick Clegg said: I’m delighted to be finalising this historic deal bringing real change to our second largest city in the UK. This significant Growth Deal will enable a whole host of jobs to be created, see scores of homes built and transport services improved. All of this is a major boost to the economy in Greater Birmingham and Solihull.

Growth Deals are about local areas leading their own growth, giving more power to people in the regions so we can work together to build a strong economy and a fairer society.

I was impressed with HydraForce’s ambitious plans to double its turnover and significantly increase its UK workforce. This US company has been in Birmingham for over a quarter of a century and this investment is securing its future in the Midlands.”

Construction gets boost from Government Growth Deals

Government investment to build thousands of new homesAs part of its long-term economic plan to secure Britain’s future, the government today is agreeing a series of Growth Deals with businesses and local authorities across England.

The Prime Minister and Deputy Prime Minister have announced the first instalment of plans to invest at least £12 billion in local economies in a series of ‘Growth Deals’ that will boost the construction trades.

The money will go towards providing support for local businesses to train young people, create thousands of new jobs, build thousands of new homes and start hundreds of infrastructure projects.

Prime Minister David Cameron said: “Growth Deals are a crucial part of our long-term plan to secure Britain’s future. For too long our economy has been too London-focused and too centralised. Growth Deals will help change all that. They are about firing up our great cities, towns and counties so they can become powerhouses.

“By trusting local people, backing business and investing in infrastructure, skills and housing, we can create thousands of new jobs. And that means more economic security, peace of mind and a brighter future for hardworking people across the country.”

Deputy Prime Minister Nick Clegg, 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. It will help end our over-reliance on the banks and the City of London, and generate growth, jobs, and ambition in towns and cities all across England.

“Growth Deals will create thousands of jobs, provide incredible new training opportunities for young people, build thousands of new homes and improve transport links across the country for people and their families; building a stronger economy and a fairer society.”