News: City deal transfers funding and responsibility to the Sheffield city region
Sheffield city region has announced a deal with the government to take responsibility for funding major schemes at a local level.
City deals are being negotiated with core cities, the largest and most economically important English cities outside of London. Each city is able to specify the particular powers they need and want to boost local growth.
In the Sheffield city region the deal will mean that central government will transfer money into a £72m total investment fund in skills and will also put money into a transport fund that could be worth £500m.
This means that more decisions on how money is spent on skills and transport in the Sheffield City Region will now be made by local businesses and partners who understand what is needed in the region.
It builds on the the Local Enterprise Partnership (LEP) for the Sheffield city region that was formed in late 2010. Led by the private sector, the board brings together representatives from local authorities and academia with local business leaders.
LEPs are the government's new model to promote economic development. They provide the strategic leadership required to set out local economic priorities, and better reflect the natural economic geography of the areas they serve.
A key element of the scheme will be focused on job creation and skills, with 4,000 new apprenticeships created across the region and an additional 2,000 adults trained in new skills to help the local economy grow.
The government is set to agree a three-year investment plan with the Sheffield City Region's Skills and Employment Partnership. This will enable a joint investment scheme with £44.4m of local public and private sector investment, £23.8m of Government funding and an additional £4m from Government.
The deal provides better certainty in transport funding, allowing more flexibility in how the money is used, up front funding, and allowing longer term planning for the needs of the city region.
One of the first schemes is the a tram-train between Rotherham and Sheffield.
James Newman, chairman of the Sheffield City Region Local Enterprise Partnership said: "This deal will further allow the LEP to drive forward real economic growth and create jobs for the Sheffield city region.
"The skills deal gives businesses unprecedented control over the way in which our skills system works, so that we can make sure we have a highly skilled workforce which corresponds with the city region's business needs.
"Our transport deal will ensure that our workforce can travel faster, smarter and more efficiently. This deal is essential to achieving our growth potential and devolves the power to make transport decisions which focus on growing the City Region's economy."
"Our £700m shared investment programme creates the funding firepower for business leaders to influence local funding allocation decisions – so that future investments are prioritised on creating new growth opportunities."
Sheffield City Region Local Enterprise Partnership website
City deals are being negotiated with core cities, the largest and most economically important English cities outside of London. Each city is able to specify the particular powers they need and want to boost local growth.
In the Sheffield city region the deal will mean that central government will transfer money into a £72m total investment fund in skills and will also put money into a transport fund that could be worth £500m.
This means that more decisions on how money is spent on skills and transport in the Sheffield City Region will now be made by local businesses and partners who understand what is needed in the region.
It builds on the the Local Enterprise Partnership (LEP) for the Sheffield city region that was formed in late 2010. Led by the private sector, the board brings together representatives from local authorities and academia with local business leaders.
LEPs are the government's new model to promote economic development. They provide the strategic leadership required to set out local economic priorities, and better reflect the natural economic geography of the areas they serve.
A key element of the scheme will be focused on job creation and skills, with 4,000 new apprenticeships created across the region and an additional 2,000 adults trained in new skills to help the local economy grow.
The government is set to agree a three-year investment plan with the Sheffield City Region's Skills and Employment Partnership. This will enable a joint investment scheme with £44.4m of local public and private sector investment, £23.8m of Government funding and an additional £4m from Government.
The deal provides better certainty in transport funding, allowing more flexibility in how the money is used, up front funding, and allowing longer term planning for the needs of the city region.
One of the first schemes is the a tram-train between Rotherham and Sheffield.
James Newman, chairman of the Sheffield City Region Local Enterprise Partnership said: "This deal will further allow the LEP to drive forward real economic growth and create jobs for the Sheffield city region.
"The skills deal gives businesses unprecedented control over the way in which our skills system works, so that we can make sure we have a highly skilled workforce which corresponds with the city region's business needs.
"Our transport deal will ensure that our workforce can travel faster, smarter and more efficiently. This deal is essential to achieving our growth potential and devolves the power to make transport decisions which focus on growing the City Region's economy."
"Our £700m shared investment programme creates the funding firepower for business leaders to influence local funding allocation decisions – so that future investments are prioritised on creating new growth opportunities."
Sheffield City Region Local Enterprise Partnership website
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