Following news last year of the Growing Places Fund, this in from the Solent Local Enterprise Partnership (LEP). Ed
Yesterday (Wednesday) the Solent LEP launched the £12m Solent Growing Places Fund.
The money will be used to fund the building work for infrastructure to enable the creation of much needed new jobs and homes in the region.
10,000 new jobs by 2026
The LEP identified infrastructure as a key area, as part of a commitment to create 10,000 new jobs in the region by 2026, and will use the funds innovatively; creating a recyclable loans fund to ensure as many projects as possible can be supported.
Types of projects which could be supported by the fund include early development of strategic link roads and access work, provision of flood storage capacity to enable development and works to improve local connectivity and reduce congestion.
Evaluation panel will assess applications
An Evaluation Panel, Chaired by Solent LEP Board Member and Morgan Sindall Investments Managing Director, Ernie Battey, has been created to assess applications for potential projects.
Mr Battey said: “I am delighted to be Chairing the Solent Growing Places Evaluation Panel. Almost a third of attendees at our Solent LEP launch event told us that infrastructure improvement was a key priority. The Solent Growing Places Funding gives us a real opportunity to tackle this problem and unlock business growth.
“I am excited by this funding opportunity and am particularly looking forward to seeing public and private partnership proposals coming through. If we receive proposals that are ready-to-go and will deliver substantial numbers of jobs and homes, the first projects could be up and running as early as August.”
Public body will administer funding
Funding awards will be made on a loans basis and successful bidders will need a public sector organisation on board to act as an accountable body, to administer funding and ensure repayments are made to the Solent Growing Places Fund on schedule.
If you have a project that you would like the Solent Growing Places Evaluation Panel to consider, you can find more information on how to apply and download application forms at www.solentlep.org.uk
