“Today’s PAC report provides many helpful pointers for future LEP strategy nationwide which our Board will be considering. However, we are proud that Enterprise M3, one of only six LEPS whose strategy was recently judged “exceptional” by Govt, has been able to spend its entire £37m funding allocation in the past year to drive economic growth in our region.
“We are already in the process of developing a fully-inclusive Local Industrial Strategy which is focusing not just on growing the economy but on how that growth is achieved - through enhanced productivity and in ways that maximises the benefit for people and places across the EM3 area.
“In our drive to increase local economic growth and private sector investment, EM3 remains aware of the public responsibility it holds when exercising how it spends government funds and makes every effort to ensure its decision-making is transparent, accountable and delivers value for money.
“Our Board is a diverse mix of leading experts which include local authority political leaders, as well as small and large companies, not-for- profit organisations, colleges and universities and we are proud to operate to the highest standards of openness, transparency and governance.”