News: Infrastructure funding for Sheffield city region
The Sheffield city region has been given an indicative allocation of £12.3m to be used on improving infrastructure and getting stalled projects moving again.
The allocation is from the government's £500m Growing Places Fund and will be used to support housing and employment investment in the city region with investments in projects such as new transport schemes and flood defences.
Local Enterprise Partnerships are able to apply for the funding and then take decisions about what to prioritise locally.
Councils will support these plans with their technical and financial expertise - leaving Local Enterprise Partnerships free of red tape and better able to focus their attentions on ensuring the funds go to where they will be used most effectively.
All £500m will be allocated from the end of January 2012 and the fund can be used to establish revolving funds to take forward a range of projects that can help facilitate economic growth, jobs and housebuilding in the local area, providing returns which can be re-invested locally. Through this, Local Enterprise Partnerships will be able to offer secure funding to developers in their area, making it quicker for projects to get off the ground but also securing a return on that investment for the local area.
Communities Secretary Eric Pickles said: "The £500m Growing Places Fund will unlock much-needed local infrastructure and get the homes we need built. It will be Local Enterprise Partnerships, made up of the people and businesses who know their local areas best, who will decide where this cash boost will be spent.
"I now want to see these partnerships coming together and finding innovative ways to unlock local sites and help get Britain building again."
In April Doncaster Council and its private sector partners secured £18m from the government's Regional Growth Fund to progress The Gateway to the Sheffield City Region project. The infrastructure project is expected to open up development sites around the Robin Hood Airport Doncaster Sheffield Airport (DSA) and HelioSlough's proposed inland port development at Rossington.
Sheffield City Region website
The allocation is from the government's £500m Growing Places Fund and will be used to support housing and employment investment in the city region with investments in projects such as new transport schemes and flood defences.
Local Enterprise Partnerships are able to apply for the funding and then take decisions about what to prioritise locally.
Councils will support these plans with their technical and financial expertise - leaving Local Enterprise Partnerships free of red tape and better able to focus their attentions on ensuring the funds go to where they will be used most effectively.
All £500m will be allocated from the end of January 2012 and the fund can be used to establish revolving funds to take forward a range of projects that can help facilitate economic growth, jobs and housebuilding in the local area, providing returns which can be re-invested locally. Through this, Local Enterprise Partnerships will be able to offer secure funding to developers in their area, making it quicker for projects to get off the ground but also securing a return on that investment for the local area.
Communities Secretary Eric Pickles said: "The £500m Growing Places Fund will unlock much-needed local infrastructure and get the homes we need built. It will be Local Enterprise Partnerships, made up of the people and businesses who know their local areas best, who will decide where this cash boost will be spent.
"I now want to see these partnerships coming together and finding innovative ways to unlock local sites and help get Britain building again."
In April Doncaster Council and its private sector partners secured £18m from the government's Regional Growth Fund to progress The Gateway to the Sheffield City Region project. The infrastructure project is expected to open up development sites around the Robin Hood Airport Doncaster Sheffield Airport (DSA) and HelioSlough's proposed inland port development at Rossington.
Sheffield City Region website
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