£1billion jobs and investment package

PUBLISHED: 13:12 10 July 2012 | UPDATED: 13:33 10 July 2012

Archant

JOBS and investment worth £1billion could be secured by a partnership between local authorities including North Somerset Council.

The Local Enterprise Partnership Board will promote growth and investment in the area.

In a deal with central Government, authorities would be allowed to keep 100 per cent of any business rates growth, to help create an economic development fund for the area worth £1billion.

It could mean the creation of 95,000 jobs in the area by 2030.

The group will also secure funding for the Greater Bristol Metro, a major rail scheme linking Weston and Bristol.

But North Somerset Council leader Nigel Ashton warned against complacency before the deal has been agreed.

He said: “I would stress that as yet, nothing has been signed, and there is still a tremendous amount of detail to be worked through.

“The terms of the deal also need to be agreed by members of all four unitaries in the West of England area, before any formal agreement is reached.”

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