This page summarises how the LEP makes funding decisions on Growth Deal and similar types of project. The process is set out in more detail in the LEP’s Assurance Framework, and is in line with Government best practice.
We use a shorter, simpler process when making decisions about business grants and loans.
Projects go through three stages on their way to receiving a final investment decision by the LEP:
- Projects that are added to the Project Pipeline are candidates for future funding, potentially some years in the future. These projects appear to meet the LEP’s strategic aims but may still be at an early stage of development. We refresh the Project Pipeline annually.
- Projects in our Allocated Programme are more developed, have been through an initial appraisal and have been prioritised to receive a provisional funding allocation. These are listed in our Projects section. We can only allocate the funding we have, so the number of projects that can be added to the programme is limited. We also use this part of the process when bidding to Government for funds.
- Projects receive their final confirmation of funding after the submission and satisfactory appraisal of a Full Business Case. Projects that reach this point are fully developed and expected to be delivered according to the agreed timescales and budget. This is known as our Committed Programme. These projects are also listed in our Projects section.
At each stage the project’s submission will be reviewed and a decision will be made through the LEP structure. In the later stages, we use independent expert assessment to provide additional assurance that the project meets all of the LEP’s requirements.
The diagram below summarises the process: