Cumbria’s European Structural and Investment Funds Investment Plan 2014-2020
The European Structural and Investment Funds Investment Plan for the period 2014-2020 sets out the priorities that Cumbria intends to support by funds that will come from the European Commission in the next seven years.
Cumbria has been given a notional allocation of €91m (around £78m at current rates) against which to plan. These funds will be used to invest in activities to help Cumbria become more prosperous, and so a better place to live and work.
In drawing up the plan, we have had to take account of those things which are a priority for EU funding in the 2014-2020 period.
The EU regulations which govern these funds identify 10 thematic priority areas (these are identified in the draft document) for EU spend.
Within these 10 areas, there are specific limits for financial allocation and there are also guidelines for the split between European Regional Development Fund and European Social Fund funding.
In addition, the UK government has indicated in detail the kinds of activities and projects it expects to see under each theme.
The strategic themes of Cumbria’s European Investment Plan build upon the Local Enterprise Partnership’s Strategic Economic Plan, and reflect investment in economic sectors which are likely to produce growth in the Cumbrian economy.
This includes a strong focus on activities which lead to jobs and growth, and specifically research and innovation, business competitiveness, growth of a low carbon economy, and employment and social inclusion.