Local Enterprise Partnership (LEP) has welcomed today's announcement of a £40 million funding boost for Greater Lincolnshire – with a further £27.5m earmarked for the future.
The Government’s Growth Deal, which the LEP and its partners have been negotiating for nine months, will give Greater Lincolnshire new resources and powers to build infrastructure, create jobs and train local people.
Projects which have secured funding from the Growth Deal for 2015-16 are:
• Grantham Southern Relief Road – £16 million
• Boston Quadrant – £4.75 million
• Boole Technology Centre, Lincoln – £3.38 million
• Unlocking Rural Housing – £4.13 million
• Bishop Burton College – £7.5 million
• Skegness Countryside Business Park (including western relief road) – £4 million
“The deal we have secured represents a major boost to our economy,” said Ursula Lidbetter, Chair of the Greater Lincolnshire LEP, which has been negotiating with Whitehall and Cities Minister Greg Clarke to secure the £39.86 million deal.
“We have worked very hard to achieve this very positive outcome in the face of some stiff competition from other regions.
"From the moment we were invited by Government to put together our strategic economic plan, we worked with our local partners to develop our assets and address our key economic challenges across Greater Lincolnshire before outlining the proposals that will bring about sustained economic growth.
"Not only will the Growth Deal support job creation, it will also improve our skills base and allow us to invest in our infrastructure to meet the economic needs of the future.”
Councillor Martin Hill, Leader of Lincolnshire County Council, said: “We put in a strong bid with a range of exciting projects which demonstrate Lincolnshire's potential for growth.
"And the size of this investment clearly shows that we've convinced Government that the county is a good place to do business.
"I'm particularly pleased with the significant contribution towards Grantham's southern relief road, which will be of real benefit to the town both in easing congestion and driving economic growth.
“We can now focus on bringing all these ambitious plans to fruition, helping to both safeguard and create jobs locally.”
The Growth Deal was a nationally competitive process. The funding award covers a two-year period from 2015-16 and will focus on investment in the six key projects listed above.
Overall the projects will create 1,857 new jobs, deliver 2,300 new houses and lever in an additional £94 million in investment.
A further £27.48 million has been earmarked for spending in 2016-17 subject to additional information and approval. The projects which would benefit are as follows:
• Grantham College – £2.28 million
• Transport Hub in Lincoln – £11 million
• Access to Employment A16/A46 – £4.2 million
• Lincoln East- West Growth Corridor – £3.1 million
• Skegness Sustainable Transport – £4.0 million
• Lincolnshire Lakes Blue and Green Infrastructure, Scunthorpe – £2.9 million
Councillor Chris Shaw, Leader of North East Lincolnshire Council, said: “This is really exciting news and demonstrates that once again North East Lincolnshire Council is securing funds to assist the industries in our area to flourish.
“There is no escaping that we have seen some challenges in this industry over recent years but we have also seen some fantastic investments too.
"Securing these funds with the support of one of our key partners means we will see further investment in the area which will stimulate the local economy, create jobs and supports the council's key priorities to create a stronger economy and stronger communities.”