The government’s Local Growth Fund exists to give funding to capital projects with a local focus. They provide money to Local Enterprise Partnerships (The Business Board) to invest in local projects that specifically help to overcome barriers to growth.
This could mean anything from improving roads to creating new business ‘incubator’ space, skills and training facilities or spaces where companies can focus on innovation.
The Business Board had £146.7 million to allocate, which needed to be spent between 2015 and 2021. All of the fund has now been allocated.
The East of England is an incredibly vibrant and nationally significant cluster of agriculture, research, science and technology bodies and assets. The Eastern Agri-Tech Growth Initiative brings these initiatives together to strengthen and grow this existing potential.
The Eastern Agri-Tech Growth Initiative operates across both the Cambridgeshire and Peterborough Combined Authority/ Business Board and New Anglia Local Enterprise Partnership (NALEP) areas and is run by the Combined Authority.
We all recognise that our market towns are the lifeblood of the local economy and the hearts of our regional community. The Combined Authority are investing over £13million, through the Business Board, to ensure our towns remain vibrant and thriving places.
The funding is being delivered through a series of strategic Market Town Masterplans that reflect the needs of the local area.