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Unlocking Local Economic Growth: A Guide to LEPs

Learn about Local Enterprise Partnerships (LEPs) role in securing funding, governance, funding sources, and the future of economic development. Discover how LEPs drive local prosperity and innovation.

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Unlocking Local Economic Growth: A Guide to LEPs

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  1. MHA Annual Event A Quick Guide to LEPs June 2014 Peter Davenport C.Eng. Economic Partnership Manager

  2. Introduction • What are LEPs? • What role do they have in securing and managing funding? • What does the future hold??

  3. What are LEPs • A partnership of business, LA, Universities, Colleges, etc. Focussed on lading and promoting local economic growth. • 39 LEP across England • Locally – GBSLEP with overlap, Black Country, Marches, Worcestershire with overlap, Coventry and Warwickshire, D2N2, Cheshire and Warrington • Governance – typically a Board, Executive, sub-groups, inc. LTB and a few working groups. • Secretariat – Partnership Manager, Support from City, County, Districts, and others….

  4. What’s their role • Advocacy of their area • A business led approach • Promoting economic prosperity • Including;business support, innovation, skills, infrastructure, enterprise etc… • Developers of the Strategic Economic Plan and other Strategies which lead to funding.. • Focus for devolution of economic, inclusion and transport funding – “contract” with Government??

  5. Funding Sources • LEP’s have access to funding through; • Growing Places Fund - loan • EU Investment Funding (ERDF/ESF) – some limited capital – 14 to 20 • Local Growth Fund – capital - see next slide • Regional Growth Fund – capital or revenue • Other sources by supporting partners or bidding • Have to demonstrate competence and delivery to Government – LA have a key role to play

  6. Local Growth Fund • National Programme, part allocation, part competition. Funding Sources • Local Major Transport - £819m • LSTF - £100m • Integrated Transport Block - £200m • FE Capital - £330m • ESF Match - £170m • RGF 5 - £50m • Housing Revenue Account Borrowing - £150m • Large Sites - £50m • Announcement July

  7. The Future • Short term • Announcement of Local Growth Deals • Development and delivery of projects to start in 15/16 • Some limited future commitments • Putting in place management of programmes • Longer term • Process will develop • Negotiations about longer term proposals • More clarity on business cases and approvals • Monitoring of outcomes

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