Green-light to boost economy
PUBLISHED: 17:00 31 October 2010
BUSINESS and council leaders have been given the green light by the Government to move ahead with plans to forge a new economic partnership for the area.
The West of England Local Enterprise Partnership (LEP) was one of only two bids asked to progress in the South West, out of 24 nationally.
The business community and the four West of England councils – North Somerset, Bath and North East Somerset, Bristol and South Gloucestershire – say they will continue to work together to boost the economy and prosperity of the area.
Leader of North Somerset Council Nigel Ashton said: “It is encouraging that the Government has chosen to support the business community and council in North Somerset and our colleagues in the West of England.
“We are well placed in North Somerset to help lead the way from recession to recovery and the council is committed to play its full part in this, working with others across the sub-region when this is right for North Somerset.”
The LEP will play a key role in delivering 95,000 jobs in the West of England area by 2030 and attracting at least £1bn of private sector investment over the next five years.
It will work closely with the Government on economic priorities and will promote key areas for trade and industry growth.
The partnership will be able to bid for a share of a national £1.4bn regional growth fund over the next three years.