The Leeds City Region Local Enterprise Partnership (LEP) has today launched round one of its £24m Growing Places Fund. Up to £10m will be available in the first round to front fund infrastructure projects that will drive economic growth in the City Region.
The LEP is inviting expressions of interest for round one from a variety of organisations. Final decisions on the allocation of funds for this round will be made by the summer.
Chair of the Leeds City Region LEP, Neil McLean said: "From our discussions with business and the public sector, we know that unavailability of finance is a major barrier preventing many infrastructure schemes from progressing. Through the Growing Places Fund we aim to help unlock those schemes that will make the biggest difference to the City Region economy. The Fund will also provide vital financing for the LEP over the longer term, enabling us to re-invest in future projects that will create jobs and economic growth, or lower carbon emissions."
The Growing Places Fund is a revolving fund, and will be given out mainly as loans. Over the longer term, the funding will be returned to the LEP to be re-invested in other infrastructure projects.
Examples of projects the Fund could support include investment in physical infrastructure, such as a new road to access housing and/ or employment development land. Other possibilities are investment in infrastructure for local energy generation, or projects that both improve infrastructure and provide apprenticeship and training opportunities.
More information about the Fund can be found at www.leedscityregion.gov.uk/funding.htm.
Expression of Interest forms can be obtained by emailing firstname.lastname@example.org.
The deadline for returning expressions of interest is 26 March 2012.
Selby District Council is one of eleven local authorities working together as part of the Leeds City Region. Click here for more information.