Funding success for the LEP

The development of the local economy has received a welcome boost from Government as it awarded the Greater Cambridge Greater Peterborough Local Enterprise Partnership £220,500 (90% of the total bid amount).

The Local Enterprise Partnership (LEP) originally applied for £245,000 of Start Up funding from the Department for Business Innovation and Skills (BIS) to help support its work during this financial year, including setting up a small, core team.

Neville Reyner CBE DL, Chair of the LEP, said: “We are thankful to BIS for listening to our calls for a small amount of funding to help towards the start up costs of the LEP. This funding, along with other financial support from our local authorities, will enable us to create a small core team of staff to help deliver our core objectives that have been defined by our business-led Board.

“This successful bid is another important step towards helping our LEP achieve its vision to create an economy which delivers significant growth in private sector businesses and jobs over the next 15 years.”

The Start Up Fund is a one year only funding scheme created to support the creation of Local Enterprise Partnerships across England. The award is subject to acceptance of the BIS offer letter.