Posted on November 23, 2016Category: News Tags: Growth Deal, Innovation, Northern Powerhouse, Transport
The Chancellor made his Autumn Statement to the House of Commons today.
The specific announcements related to the Humber LEP are summarised below.
The Government is allocating £556m from the Local Growth Fund to the 11 LEPs in the Northern Powerhouse through a third round of Growth Deals. Details of the individual LEP allocations will be announced at a later date. Information on the Humber’s bid can be found here.
A1079/A164 Jocks Lodge Junction
The Government is providing funding to develop a business case for improvements to the A1079/A164 Jocks Lodge Junction, following a bid by East Riding of Yorkshire Council through the Humber LEP.
This will enable the council to undertake development work on the scheme which can lead to the submission of a bid for scheme funding from the Government’s Local Majors Fund.
Science & Innovation Audit: Offshore Energy
The Government has approved a proposal for a Science & Innovation Audit covering Offshore Energy.
The Humber LEP was part of the consortium which bid for this, alongside North East LEP, Tees Valley Unlimited, Liverpool City Region LEP, the Universities of Hull, Newcastle, Durham and Liverpool; and the Offshore Renewable Energy Catapult. The bid was also supported by a broad consortium of industry players and Scottish Enterprise.
The Audit will set out the research and innovation capabilities of the North for this sector and opportunities for future developments. The Government also announced increased funding for innovation in the Autumn Statement.
Science & Innovation Audit: Bio-economy
The Government also approved a bid for a Science & Innovation Audit covering the bio-economy. Led by the University of York and involving a broad consortium including the Humber LEP and the University of Hull, it will map the North’s innovation strengths for this sector.
Two of the eight Science & Innovation Audits announced by the Government cover the Humber area.
The Government confirmed that the £400m Northern Powerhouse Investment Fund will make its first investments from early next year. 10 LEP areas across the North have teamed up to create the fund, which will provide finance for SMEs. It will be part-funded from European Structural & Investment Funds.
The Government also published a Northern Powerhouse strategy setting out how it intends to engage with LEPs, local and combined authorities, universities and the private sector to increase productivity in the North.