The LEP is delighted to launch its latest Impact Report, which marks the completion of the second year of the Thames Valley Berkshire Growth Deal.
2016/17 has seen an investment of Local Growth Funds nearing £17m, an investment of over £7.5m EU Structural & Investment Funds, and the deployment of Growing Places Funds to some exciting, high-growth businesses. The government’s decision to award the LEP the full capital grant for the third year of its Growth Deal is hugely encouraging and demonstrates the value placed on Berkshire as the UK’s most productive sub-region.
Dr Phillip Lee MP, Member of Parliament for Bracknell, commented on the report;"The latest Impact Report highlights the vital role of the LEP in supporting economic growth throughout Berkshire.
By 2021, the LEP aims to have implemented the Strategic Economic Plan for the area, which will see the creation of up to 33,000 jobs and 23,485 new homes, as well as investment into exciting high-growth businesses through its award-winning SME ‘Funding Escalator’, Business Growth Hub and support programme for ‘Scale-Up’ businesses.
I welcome the LEP’s focus on enhanced connectivity and digital infrastructure, which enables people and ideas to move more freely throughout the area.
Thames Valley Berkshire is already the UK’s most productive sub-region and is recognised as one of Europe’s strongest knowledge economies. Addressing skills gaps, particularly in STEM related careers, and ensuring that economic potential is not restricted by the labour supply, is crucial to increasing this productivity further, and I am delighted to see that the LEP has and will continue to invest in this area”.
Click here to download the report.