Multimodal distribution terminal in Bristol in support of Gov’s £25m economic regeneration
A £25m economic development fund has been established to create jobs and growth in the West of England. Our multi modal distribution terminal supports this.
Business leaders in the West Midlands are particularly pleased as the area has seen more investment than any other region in the country.
LEP chair Colin Skellett said: “This is a demonstration of the confidence that Government has in the West of England LEP and allows us flexibility to address our own local priorities.”
Coventry and Warwickshire Local Enterprise Partnership was especially supportive after nine projects put forward by local firms were successful in securing funding, while the LEP itself was awarded £24.4m to help companies expand by buying assets through grants, and to boost infrastructure projects.
The scheme is set to provide a major boost to the manufacturing industry and the automotive sector in particular. This also means good business for distribution and manufacturing premises in and around the area.
John Mutton, leader of Coventry City Council and vice-chair of the LEP, said: “We now have the resources we need to really help our local area develop as a competitive, innovative, low carbon economy.”
“Once again we have demonstrated effective cross-LEP working by joining forces with five other West Midlands LEPs to secure the funding for this initiative.”
The LEP will formalise arrangements for the operation of the fund with the Department for Business, Innovation and Skills over the coming weeks. Details of eligibility and how to apply will be released soon.
Source: The Business Desk