LEP Growth Deal Launch

Cornwall Isles of Scilly LEP invites expressions of interest for the next round of Growth Deal Funding.

The Cornwall and Isles of Scilly Local Enterprise Partnership (LEP) has issued an appeal for projects that could benefit from the Government’s next round of Growth Deal funding.

The LEP and Cornwall Council have already secured more than £60 million of investment from two Growth Deals that will attract a further £150 million of private investment, creating some 4,000 jobs and helping to deliver around 6,000 new homes by 2021.

The Government is expected to announce a third round of Growth Deal funding before the end of the year, and the LEP wants to make sure it has a pipeline of potential projects to put forward for bids.

The money comes from the Government’s Single Local Growth Fund which is designed to give regions the power and money to unlock local growth and development.

Speaking at Cornwall Expo 2015 at Newquay Cornwall Airport, LEP Chief Executive Sandra Rothwell said: “We’ve been very successful in previous rounds and this is a competitive process with other regions so we are issuing a call for projects that could benefit from Growth Deal funding, or other potential funding opportunities.

“We still don’t know how much money will be available and we can’t guarantee that projects will be funded, but we want to be ready.

“We welcome expressions of interest from any public, private or third sector organisation that has a project with the potential to deliver high quality economic growth in Cornwall and the Isles of Scilly. This is for capital and revenue projects with a minimum grant funding request of £100,000.”

To submit an expression of interest applicants will need to fill out an expression of interest form for their project. Members of the LEP team are available to discuss potential projects.

For more information

For full details of the Growth Deal please visit the LEP website.

The closing date for Expressions of Interest is midnight, Friday 6th November 2015.

The LEP will then shortlist projects that could be put forward for support as part of any future Growth Deal bid to the Government.

Summary points:

  • The LEP are inviting Expressions of Interest from Cornish businesses and want to hear about good ideas and economic growth ideas for the future.
     
  • Any public, private or third sector organisation that has a project with the potential to deliver jobs and growth in the Cornwall and Isles of Scilly LEP area.
     
  • The call is for capital and revenue projects with a minimum grant funding request of £100,000
     
  • The LEP are anticipating the next bidding round for Growth Deal funding will be announced autumn 2015, linked alongside the Government’s Comprehensive Spending Review (CSR).
     
  • In preparation of this announcement, the LEP wishes to have a pipeline of capital and revenue projects that can be worked into full business case should funding opportunities arise.
     
  • Expressions of Interest must be submitted by midnight, Friday 6th November. Template forms are available online
     
  • All Expressions of Interest will be considered. Assessment will be based around three core themes: Ambition and rationale; Value for money; Deliverability and risk.
     
  • Full guidance notes and details on the Growth Deal are available from the LEP’s website.

Source: http://www.cioslep.com/

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