“Investing in the Enterprise M3 area will not only improve the economy for local people, businesses and enterprises but also the national economy as a whole.”
This was the key message from Geoff French, Chair of the Enterprise M3 Local Economic Partnership as the LEP submitted to Government today its Strategic Economic Plan and Local Growth Deal.
The Enterprise M3 Strategic Economic Plan, Growth Deal and Delivery Plan to Government sets out the LEP's priorities and delivery plans for economic prosperity, including a £340m proposal for funding from the Local Growth Fund. This bid is also backed by £392m of local funding (including the £24.3m the Enterprise M3 has already received for transport projects) which will leverage in some £3bn from the private sector.
Enterprise M3's plan demonstrates the huge support the withi LEP has within the Enterprise M3 area and across its boundaries from business, public and not-for-profit partners and stakeholders. This support and ongoing commitment has helped the LEP to develop a strong, robust and dynamic Plan for the area.
The outcome of the Plan will be a smarter future for the area and the UK economy. The LEP looks forward to working with businesses and other organisations in the Enterprise M3 area to progress its Plans and ambitions for growth.
Commenting on the submission of Enterprise M3's Strategic Economic Plan and Local Growth Deal, the Rt Hon Greg Clark MP, the Minister for Cities said: "The Government welcomes the Strategic Economic Plan that Enterprise M3 LEP has published today and looks forward to continued engagement with local civic and business leaders over the next few months on the negotiation of their Growth Deal.
"The Growth Deal provides a fantastic opportunity for Enterprise M3 LEP to seek freedoms, flexibilities and influence over resources from government, and a share of the Local Growth Fund to put towards their the growth priorities set out in this Strategic Economic Plan. This provides the opportunity to unleash the ambition and creativity of Enterprise M3's local leaders, by devolving resource and responsibility in return for compelling local economic leadership in pursuit of growth."