Government unveils £550m growth deals for South East and East of England

LOCAL Enterprise Partnerships in London, the South East and East of England will receive over £550m to boost jobs, support businesses and encourage growth, the Government has announced.

The allocations from the £12bn Local Growth Fund include £492m for eight LEPs across London and the South East, plus a further £150m for three LEPs in the East of England.

The funding aims to support 237,000 new jobs, 119,000 homes and over £4.7bn in additional investment.   

Communities secretary Sajid Javid said: "This new money will give businesses across the region the support and opportunities they need to achieve their potential. This is on top of the £2.2bn we have already awarded."

New projects include a commercial boiler scrappage scheme and business grants to help reduce air pollution in London, a Bio-Innovation Centre to act as an incubator for life sciences projects at the University of Sussex and £15m to develop an Innovation & Productivity Fund for help businesses in the New Anglia LEP region to improve productivity through technology.  

Local growth minister Andrew Percy said: "From Brighton to the Norfolk Broads, [this] investment will support the delivery of new homes and jobs right across the South East and East of England.

"These growth deals are a crucial part of our efforts to create an economy that works for everyone, and will ensure every region of the country has the chance to realise its full potential."

The funding comes after £556m was allocated to LEPs in the Northern Powerhouse region last week. Allocations for the Midlands are expected to follow shortly.