The Coventry and Warwickshire Growth Deal rounds one and two have secured £154.7m funding to support the local area’s aspirations to build on its advanced manufacturing and engineering strengths.
Growth Deal 3 will allow us to deliver £475m investment package, leading to over £1.6bn additional capital investment.
Growth Deal Round One and Two
Coventry and Warwickshire is recognised as a globally important hub in advanced manufacturing and engineering, with business and research links across the world. Advanced manufacturing and engineering directly employs 34,000 people in Coventry and Warwickshire accounting for 10% of employment, 57% greater than the UK average overall and 500% greater than the UK average for the automotive industry.
Growth Deal one and two have invested in:
- New transport infrastructure which will improve connections with other cities and towns and tackle congestion on the area’s roads.
- Driving innovation in advanced manufacturing and engineering through the provision of new R&D and business support facilities.
- Supporting businesses to flourish through the provision of effective business advice and support.
- Growing local skills and talent through investment in Further Education Colleges.
Growth Deal Round 3
Having refreshed our Strategic Economic Plan, we are requesting £150m from Government to deliver a suite of transformational projects under five strategic pillars. This will be matched by £325m of additional public and private sector investment, and will lever an additional £1.6bn of capital investment to achieve our ambitions.
Our proposed interventions for Growth Deal Round 3 funding will not only deliver against the key targets detailed within the CWSEP Refresh, but will fundamentally contribute to the objectives detailed in the Midlands Engine Prospectus and national policy objectives.
Growth Deal Total Fund
CWLEP has secured £154.7 millionin Growth Deal funding to support economic growth for Coventry & WarwickshireMore