Growth Deal

In 2014 Liverpool City Region Local Enterprise Partnership (LEP) was awarded a total of £230million Growth Fund to unlock the regions potential as an economic powerhouse and create thousands of jobs.

The Deal was a direct result of the Economic Strategy submitted by the LEP in March 2014 and the funding was largely allocated to transport projects and skills capital investments.  The announcement did however include funds for an International Festival for Business in 2016 and the establishment of a Business Growth Hub by the LEP.

A transport package totalling over £97m will see £46.6million committed to schemes that will directly support the City Region’s freight and logistics hub ambitions and £51.6million to enhance the connectivity and attractiveness of the City Centre as a place to visit, do business and live. The remaining £41.4million will see a programme of activity to support growth in the economy. More information on Major Transport Schemes can be found on the Merseytravel website

£41.1million was also allocated for Skills Capital Funding to enable the City Region Colleges to enhance and develop facilities ensuring the regions educational establishments have the facilities to match the demands from business. In addition a new low carbon fund for colleges was awarded to encourage energy efficiencies.

In January 2015, Government announced a further £31.6m of devolved funding as part of the Growth Plan process to be allocated to low carbon project capacity, an extension of our Business Growth approach, and to create a Liverpool City Region capital fund.

The LEP and Liverpool City Region Combined Authority has, this month (August 2016), submitted its bid for the next round of Government funding through the Growth Deal. Our Bid sets out a five year programme which illustrates how City Region partners will use the funding to fulfil our economic growth ambitions and deliver long-term prosperity for local residents, businesses and employees. Our submission is founded upon the three pillars of the Liverpool City Region Single Growth Strategy: ‘Productivity; People and Place’; underpinned by the interrelated key themes of Business and Innovation; Skills; Transport; and Housing.

Local Growth deals require all LEPs to develop a LEP Assurance Framework to ensure that Growth Deal funds and other funds devolved to the city region are managed in an appropriate and effective way. Liverpool City Region’s has been jointly developed by the Local Enterprise Partnership, the Liverpool City Region Combined Authority, and each of the constituent local authorities. The framework will be maintained on behalf of all partners by Merseytravel who are the accountable body for Local Growth Deal funds and any other funds allocated at City Region level.