The Greater Lincolnshire LEP has received a £25.8 million cash boost from the Government to fund ‘shovel-ready’ projects to help the local economy and create jobs.
The ’New Deal’ announcement is part of a comprehensive plan by the Government to “build, build, build”, delivering upgrades to local infrastructure and boosting skills in a move to fuel economic recovery across the UK.
Thirty-six 36 LEPs and combined authorities are getting a share of a £900 million Getting Building Fund that will support local infrastructure projects.
The investment will support economic recovery following the COVID-19 pandemic and will be used to improve digital infrastructure, support skills and career opportunities, and transition to a low-carbon economy.
Together with partners from across the region the Greater Lincolnshire LEP put forward a long list of compelling and innovative projects to deliver growth and continue to develop the talent, ideas and facilities in the region.
These projects will now be evaluated by the Government to identify which will receive funding and deliver the most value in terms of restarting the local economy and meeting the future challenges of levelling up the UK.
Successful projects will need to demonstrate that they meet LEP key priorities and can be completed by the end of 2021.
Pat Doody, Chair of the Greater Lincolnshire LEP, said: “We very much welcome today’s announcement. This funding will provide a major stimulus for our city, towns and communities.
“The size of our allocation demonstrates a belief in what the Greater Lincolnshire Local Enterprise Partnership can deliver and is a testament to the collaborative working between the LEP and its partners.
“We will continue to work with partners as we begin negotiations with the Government to determine which projects will receive funding based on their ability to accelerate growth and create employment.
“As we reshape our Local Industrial Strategy to reflect the impact of the pandemic it’s essential that we remain flexible to support our communities, that we adapt to new opportunities, and that we build an economy that it is more resilient in the long term.
“We will continue to work with the Government on future funding for investments to support our ambitions and we have written to Number 10 about the broadband, food sector and skills investment that is needed to boost our economy.”
The Prime Minister has also announced that funding will be brought forward for the six towns across Greater Lincolnshire to help them meet the immediate challenges they face owing to the pandemic.
This fast-tracking of investment totalling £5 million will help kick-start activity in towns and high streets across Greater Lincolnshire, ensuring that people can see and feel the benefit as soon as possible.