SELEP receives £102m investment in growth

Modified from an article originally posted on the SELEP website

SELEP area is to receive a further £102m of government funding to help create jobs, support businesses and create new growth opportunities.

Encouraging growth across SELEP

Andrew Percy MP, Minister at the Department for Communities and Local Government, who has responsibility for local growth, announced last week a government cash injection of £102.65m for capital projects for the South East Local Enterprise Partnership (SELEP), which covers East Sussex, Essex, Kent, Medway, Southend and Thurrock with 19 projects in total set to benefit.

Projects which have been successful in securing funding include a Technical and Professional Skills Centre at Stansted Airport; extension of the Leigh Flood Storage Area near Tonbridge, Kent; and an East Sussex Strategic Growth Project, which were identified as local priorities by SELEP.

The package of projects to be funded through this round of Local Growth Fund will improve educational attainment, create new jobs and provide the enabling infrastructure to support the delivery of new homes and employment, and will leverage an additional £141m in private sector funding.

The £69.8m, which on top of previous funding could help generate up to 11,000 local jobs, create 3,900 homes and attract £1.2bn in extra investment over the next five years, comes only weeks after Lancashire officially became a Northern Powerhouse partner.

Huge regional expansion

This latest award of Local Growth Funding is on top of £488 million of Growth Deals monies already awarded to the SELEP. This latest investment of £102m will deliver an additional 6,129 new homes, create or safeguard 30,785 jobs and secure a further £141 million of private sector investment across the region.

In total the SELEP Growth Deal from 2014 – 2020 now stands at £590.8m which is set to deliver 78,000 jobs, 29,000 homes in total and attract a further £960 million extra investment into the South East over the next five years.

“…infrastructure projects of the future…”

Minister for Local Growth, Andrew Percy MP said:

“From Southend to East Sussex, [this] £102 million investment will support the delivery of new homes and jobs right across the South East Local Enterprise Partnership.

“In fact right across the South East, people will benefit from £492 million extra investment thanks to these Growth Deals to create jobs and infrastructure projects of the future.

“These growth deals are a crucial part of our efforts to create an economy that works for everyone, and will ensure every region of the country has the chance to realise its full potential.”

“…a huge boost…”

SELEP Chairman Christian Brodie said:

“This Growth Deal settlement is a huge boost for the South East economy.

”We have secured funding to channel significant investment into the projects which are of highest priority to our businesses and local areas.

“… this funding presents opportunities for us to fund future growth in new and different ways.

“SELEP has taken huge strides in recent months, with our private sector businesses and councils across East Sussex, Essex, Kent, Medway, Southend and Thurrock working together to make the South East the place for business and growth and we also must pay tribute to pay to the support from our stakeholders, particularly MPs, in helping us achieve this result.”

About the author

Kim is the Digital Communications Officer for the Smart Specialisation Hub.

Leave a Reply