Funding a range of strategic capital projects in the North East
What is Local Growth Funding?
Our £270m Local Growth Fund (LGF) is a capital programme that forms a key element of the North East Growth Deals agreed with Government between 2014 and 2017. It allows us to progress ambitious growth measures, together with our partners, to achieve the objectives set out in the Strategic Economic Plan (SEP).
This £270m includes funds awarded under the three rounds of Local Growth Funding and supports major capital projects across the North East LEP area through smart, strategic and focused investment of public and private sector funding.
Analysis has shown that every £1 of Local Growth Fund invested could generate £4.81 in benefits.
We are now nearing the end of this investment programme. Many projects are now in operation and many more under construction creating employment sites and buildings for business innovation and growth, strategic transport improvements and new learning facilities supporting local communities.
In 2019, our LGF partners who told us how the Local Growth Fund has helped make a difference to their project and wider local economy and how their projects are contributing to the objectives of the North East Strategic Economic Plan.
Watch the video below to learn more about our LGF projects and what impact they are having.
Our Local Growth Fund funded projects directly support one or more of the following strands of activity:
- Driving innovation and improving business support
- Developing skills infrastructure and supporting economic inclusion
- Creating new strategic economic assets and infrastructure
- Enhancing strategic transport corridors and public transport infrastructure
You can find details of all LGF projects here. A summary table of all projects can be found here.
We sometimes issue calls for additional capital projects, when we do, they will be published here.
If you would like more information about LGF please contact us.