Ministers have confirmed the regional allocations of the £500 milllion fund, which is designed to boost economic growth by getting the required infrastructure built to enable the creation of new homes and jobs and get stalled projects moving again.
As a result of changes to the formulae used to allocate the funding to Local Enterprise Partnerships, the South East LEP will now receive just over £33 million. This is an additional £672,552 on top of the allocation originally announced last November.
The South East LEP will consider a shortlist of schemes for funding and an announcement on the first tranche of allocations will be made on the successful projects in the next few weeks
South East LEP Chairman, John Spence, said "This funding will help provide a shot in the arm for the economy of the South East and therefore the whole country.
"It is right that the Government supports the businesses and local authorities from across the South East LEP to develop local solutions for local challenges. The LEP will add value by prioritising the schemes which have optimal impact on enterprise and growth for our area and the country as a whole.
"We are clearly geared up to put this funding to work as quickly as possible and will respect the principles of subsidiarity in ensuring that our local partners – both private and public sector – use it to drive real growth across the LEP."
Further information
This press release was issued on behalf of South East Local Enterprise Partnership (LEP).
The South East LEP is a partnership involving leaders from business, local government, and further and higher education which is working towards creating the most enterprising economy in England. It covers East Sussex, Essex, Kent, Medway, Southend, and Thurrock
It is the largest strategic partnership of its kind outside of London. It represents a combined population of 3.9 million people and is home to more than 130,000 businesses, which provide more than 1.3 million jobs. It is a critical port and gateway area in a strategic location between London, Europe and the global economy.
The areas covered by the LEP are the country's economic powerhouse contributing £55 billion a year to the national economy.
For more information visit the South East LEP website. You can also follow SELEP on Twitter @southeastlep
For more information on SELEP please contact Stewart Henderson in Essex County Council's Communications – phone: 01245 433150 or email: stewart.henderson@essex.gov.uk
Reference:
PR 3487
Contact the press team
East Sussex County Council