IMPORTANT ANNOUNCEMENT ON GROWTH DEAL

Wednesday 24th of September 2014 12:00 AM

DBIS are currently developing a case for additional capital money for Growth Deal. If successful that would be announced in the Autumn Statement (scheduled for 3 December). The money would come from underspends in other government departments and requires the approval of HM Treasury. Any money that is secured from this process is in addition to the £74.1m, already secured for the Growth Deal announced in July and signed by Greg Clark earlier in September, for projects that linked strongly with priorities for investment, starting in 2015/16, that were embedded within the Coventry and Warwickshire Strategic Economic Plan (SEP) published in March 2014.
 
CWLEP (and all LEP’s across England) has to submit a list of prioritised projects by the 3rd October. Such a short timescale will prove very challenging for all involved given that this information only came to us on the 19th September.
 
Organisations interested in applying should complete an Expression of Interest Form that can be down loaded from this link. Please complete this form for any projects you wish to be taken in to consideration. The plan is to offer projects to the total value of £20m seeking LGF ranked in priority and individual projects must have a minimum Local Growth Fund contribution of £1m to be considered. We are being encouraged to submit projects that could start and spend in the last few months of this financial year as well as projects that will begin in 2015/16 onwards.
 
Given the time needed to process the Expressions of Interest and determine a final prioritised list and get it signed off, the deadline for receiving the EoIs is 12 noon on the 1st October. Please send them to growthdeal@cwlep.com

Please note that projects that progress beyond the Expression of Interest stage must be able to provide assurance that a full business case will be available to CWLEP by the 31st October so that a detailed assessment can be undertaken.   
 
We expect some changes to be made to the SEP in the near future to place more emphasis on innovation and creativity but partners should continue to support the aims and objectives highlighted within the current SEP (available for download on the LEP website www.cwlep.com) in any projects that are proposed. 
 
In the very near future an open call for projects will be issued to enable a pipeline of Growth Deal projects to be assembled. This will help CWLEP to better understand initiatives being developed by partners and will enable it to respond to funding opportunities from the government as they arise.
 
For any further information please contact:
 
Gary Collins: gary.collins@coventry.gov.uk; 02476 832446 
Andy Williams: andy.williams@coventry.gov.uk; 02476 833731

 

Category: Announcements