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Cumbria LEP agrees £26.8 million investment with Government

The Cumbria Local Enterprise Partnership today agreed an historic Growth Deal with the Government which will see £26.8million invested in Cumbria.

£9.1million has been confirmed in the first year, and as part of the Government’s on-going commitment to the Cumbria LEP it has provided an indicative award of a further £17.7million of funding from 2016/17 onwards.

The projects which start in 2015/16 will help to create up to 1,500 jobs, allow up to 3,000 homes to be built and generate up to £50 million in public and private investment.

The key features of the deal are:

  • An Advanced Manufacturing Technology Centre at Furness College to equip Cumbrians with the skills to take up the expanding opportunities at BAe and within the supply chain for major manufacturers.
  • A package of measures to optimise connectivity within Cumbria, particularly improving public transport links between Kendal and Keswick.
  • Improved access to South Ulverston to support the expansion of GlaxoSmithKline and housing development.
  • Access improvements to the Durranhill Industrial Estate in Carlisle to enable business expansion and the revitalising of this enterprise asset.

The Cumbria Growth Deal is part of a £12 billion long-term programme to revitalise local economies. The deals are the latest and greatest example of the British economy being rebuilt from the bottom up, and sharing the benefits of the recovery around the country.

Local businesses and council leaders have been invited to open discussions immediately on the next set of projects to be funded, building on the momentum that has been established.

The Prime Minister said: “Growth Deals are a crucial part of our long-term plan to secure Britain’s future.

“For too long our economy has been too London-focused and too centralised. Growth Deals will help change all that. They are about firing up our great towns and cities, boosting local economies and driving growth across the country.

“This historic deal means real change with exciting plans for Cumbria that include boosting the skills for local people so they can take advantage of career opportunities at BAe Systems and its supply chain, improving public transport between Kendal and Keswick, and improving connections to South Ulverston to open up more jobs and housing opportunities.

“By trusting local people, backing business and investing in infrastructure, skills and housing, we can create thousands of new jobs. And that means more economic security, peace of mind and a brighter future for hardworking people in Cumbria”.

The Deputy Prime Minister said: “The Cumbria Growth Deal will create hundreds of jobs, provide incredible new training opportunities for young people, build thousands of new homes and improve transport links across the region for people and their families; building a stronger economy and a fairer society.

“We’re placing the power and money in the hands of people in Cumbria who know how to spend it best, making a real difference to local communities.”

Cumbria LEP Chair George Beveridge said: “This is a great result for Cumbria. Not only has every single one of our major capital projects received funding, but all but one have received 100% of what was asked for.

“These projects will deliver economic growth and jobs right across the whole county in both rural and urban areas.

“All of the major private and public sector voices in Cumbria are backing this plan and are backing the delivery of the projects that now have the green light. Cumbria LEP will now be actively pursuing future development opportunities eligible for Local Growth Funding for 2016/17 and beyond.”

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