£270m investment package for the Heart of the South West

LEP response to Government’s Growth Deal announcement

The Heart of the South West Local Enterprise Partnership is pleased to have secured an investment package for the area worth £270m.  The LEP has agreed a Growth Deal with Government which includes £130.3m from the Government’s Local Growth Fund to support economic growth in Devon, Somerset, Plymouth and Torbay.  The deal will unlock further investment of £140m from the private sector and local partners.

In the coming weeks we will be working with Government to put in place relevant arrangements to enable us to draw down monies; confirming the scope of works to be delivered against each strand of activity (for example, the scope of channel widening and flood alleviation works in Somerset).

For more information, download the LEP’s full press release, the Government’s fact sheet or visit the Government website to download the full Growth Deal.