Cumbria LEP’s ‘Four Pronged Attack’ sets out how the county’s economy can deliver jobs, business growth, improved skills, new infrastructure, housing and a range of other economic benefits between now and 2024.
The Strategic Economic Plan is the county’s ‘big ask’ to Government to attract growth funding from 2014-2024 for specific projects which will deliver the maximum returns to UK plc.
The Strategic Economic Plan specifies how £24 million pounds of Government Local Growth Funding from 2015/16 would be spent to boost the local economy.
The £24m is Cumbria’s ‘bid’ from an overall national fund of £1bn; it will be considered alongside submissions from 38 other LEPs across England by the Department for Business, Innovation and Skills.
As well as the shorter-term projects identified for 2015/16, the Strategic Economic Plan also maps out medium to longer term projects over the next 10 years to set into context Cumbria’s strategic direction for economic growth.
The plan develops a hard-hitting ‘four by four’ approach to help deliver the maximum benefit for Cumbria, unleashing growth in both rural and urban areas.
George Beveridge, Chair of the Local Enterprise Partnership said: “This plan merges Cumbria’s varied business sectors, from our rural food and tourism sectors, to advanced manufacturing and nuclear and energy.
“With £12 billion worth of major scheme investment in the pipeline for Cumbria, our economy is at a watershed moment. Exciting times full of potential lay ahead. But we need to ensure we deliver the infrastructure, the skills base and the right support to secure and nurture all this investment.
“Our strategic economic plan picks the areas with the greatest potential, the seeds that we think will shoot up quicker and higher than any others. It is Cumbria’s case for growth and I am delighted that so many leading voices in the county are behind it.”