News: LEP confident of RGF bid success
James Newman, chairman of the Local Enterprise Partnership (LEP) believes that the Sheffield City Region has every reason to be confident of the success of their bid in round three of the government's Regional Growth Fund (RGF).
In June, public and private sector partners from city Region submitted a bid support a project to improve the infrastructure around the region's Enterprise Zone (EZ) and boost investment and job creation.
The RGF is the government's main source of funding for economic development and regeneration. Over 400 applications are competing for a share of £1 billion funding in the third round of the fund.
In the first round, Doncaster Council and its private sector partners have secured £18m from the RGF to progress The Gateway to the Sheffield City Region project.
In the second round, the University of Sheffield was awarded £9.2m for a £20.5m training centre for advanced manufacturing that is to be built in Rotherham.
James Newman said: "Although we haven't had our fair share of the fund so far, this time we have made government an offer that they will find extremely attractive.
"Our innovative programme bid asks government to invest £38.6m to unlock £151.2m of direct business investment, leading to sustainable, private sector growth. The footprint of this will be 2,193 new private sector jobs by March 2015. There will also be countless further benefits including indirect jobs, and jobs safeguarded in the region.
"We know that there is huge untapped potential in the City Region and this programme will demonstrate that a small amount of funding can unlock four, five, six or more times as much direct private sector investment – leading to growth and sustainable, private sector employment.
"This bid has been several months in planning and a lot of hard work has gone into getting it right – it brings together dozens of companies with robust plans for growth. This is why the LEP Board is very confident that this bid will be extremely attractive to the ministerial panel."
One key site in the EZ is the Advanced Manufacturing Park and Waverley in Rotherham (pictured). If successful in the funding bid, the project would support the construction of a new improved road junction and additional ground works to accelerate development of a 280 hectare (692 acre) former UK Coal site.
In addition the project would support works to key junctions on the local strategic road network that improve access for heavy and oversized loads from the Sheffield and Rotherham EZ locations to the motorway network, thereby increasing the investment potential of the EZ for manufacturing companies.
The ministerial panel is expected to make their announcement in early Autumn 2012.
LEP website
Images: Harworth Estates
In June, public and private sector partners from city Region submitted a bid support a project to improve the infrastructure around the region's Enterprise Zone (EZ) and boost investment and job creation.
The RGF is the government's main source of funding for economic development and regeneration. Over 400 applications are competing for a share of £1 billion funding in the third round of the fund.
In the first round, Doncaster Council and its private sector partners have secured £18m from the RGF to progress The Gateway to the Sheffield City Region project.
In the second round, the University of Sheffield was awarded £9.2m for a £20.5m training centre for advanced manufacturing that is to be built in Rotherham.
James Newman said: "Although we haven't had our fair share of the fund so far, this time we have made government an offer that they will find extremely attractive.
"Our innovative programme bid asks government to invest £38.6m to unlock £151.2m of direct business investment, leading to sustainable, private sector growth. The footprint of this will be 2,193 new private sector jobs by March 2015. There will also be countless further benefits including indirect jobs, and jobs safeguarded in the region.
"We know that there is huge untapped potential in the City Region and this programme will demonstrate that a small amount of funding can unlock four, five, six or more times as much direct private sector investment – leading to growth and sustainable, private sector employment.
"This bid has been several months in planning and a lot of hard work has gone into getting it right – it brings together dozens of companies with robust plans for growth. This is why the LEP Board is very confident that this bid will be extremely attractive to the ministerial panel."
One key site in the EZ is the Advanced Manufacturing Park and Waverley in Rotherham (pictured). If successful in the funding bid, the project would support the construction of a new improved road junction and additional ground works to accelerate development of a 280 hectare (692 acre) former UK Coal site.
In addition the project would support works to key junctions on the local strategic road network that improve access for heavy and oversized loads from the Sheffield and Rotherham EZ locations to the motorway network, thereby increasing the investment potential of the EZ for manufacturing companies.
The ministerial panel is expected to make their announcement in early Autumn 2012.
LEP website
Images: Harworth Estates
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