The Humber Local Enterprise Partnership (LEP) has welcomed the announcement in yesterday’s Budget that it will receive an extra £2.8m from the Government’s Growing Places Fund.
Along with other LEPs, the Humber LEP received its first allocation – of £5.9m – in January. The LEP Board decided to use it to start the Humber Infrastructure Fund, and is seeking extra funding to build it up into a larger loan fund. The LEP was one of the first in the country to invite expressions of interest for its Fund.
32 expressions of interest totalling over £32 million were submitted to the Humber LEP for consideration last month. The LEP’s Investment Board shortlisted 12, which are currently preparing more detailed business cases. Final decisions will be made on these shortly.
A wide range of projects were submitted for consideration, including support for small business units, road infrastructure to open up land and housing development.
Lord Haskins, Chair of the Humber LEP, said:
“We wanted to allocate the first round quickly, and we will be one of the first LEPs to have done that. The extra funding, although small, is welcome and we will discuss how best to use it at the LEP Board meeting on Friday.”
For more information see www.humberlep.org or call 01482 611890.