Distribution warehouse in Local Enterprise Partnership area is excited to hear latest details
Distribution warehouse Central Park, located in the Local Enterprise Partnership Area of Bristol and Avonmouth, has been interested to find out more details of the schemes plan.
The organisation tasked with creating economic growth in Bristol and the West of England has sketched out plans to create thousands of jobs by investing in five key industries. The Local Enterprise Partnership plans to ask for from £75-90 million of Government funding each year to spend on targeted projects to boost the economy.
Chief executive Paul Wilson explained his vision at the LEP’s annual conference at the At-Bristol science centre. While details of which projects the LEP will support, or even how much money it will actually get, are not yet known, Mr Wilson said there were five sectors where the organisation felt it could get the best value for its money – areas where Bristol is already punching above its weight.
The sectors are low carbon; high tech; advanced engineering and aerospace; creative and digital media; and finance and professional services. In those industries, the organisation says there are four areas in which it may be able to help – skills and people; place and infrastructure; investment and promotion; and support for small and medium sized businesses.
The vision comes from the LEP’s strategic economic plan, which it will submit to the Government in the spring after putting it out to public consultation from mid-December. The plan will be used to bid for a slice of £2 billion from central government, money carved out to be devolved into local hands by Lord Heseltine’s drive to give more power to the regions. The majority of that money is already tied to specific projects, including the MetroBus in Bristol. LEPs from around the country are bidding for the rest.
Mr Wilson said: “Our plan is ambitious. We are confident in our ability and we are going for £70-95 million a year because we believe we have a lot we can offer the whole country and it’s good to back a winner.” In addition to the central Government money, the LEP will be handing out European money too, around 12 million euros a year. It intends to roll the money together to use it to best effect, and have “one front door” for businesses looking for support. On jobs Mr Wilson said if the economy was left to its own devices, the Bristol area could see 65,000 new jobs created by 2030. But with enough investment through the LEP that could grow by as many as 95,000.
Source: Bristol Post