Finance plan set to boost Cumbria Economy

Cumbria's Local Enterprise Partnership has unveiled its financial plan for the next ten years. The plan hopes to boost Cumbria's economy and create more jobs.

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Investment plans for Cumbrian economy

An ambitious plan to bring thousands of new jobs and hundreds-of-millions-of-pounds into Cumbria's economy has been unveiled.

The county's Local Enterprise Partnership is bidding for a share of Government cash to invest in growth opportunities around the M6 Corridor and also in the nuclear industry.

Fiona Marley Paterson reports.

Financial plan will attract young people

Cumbria Local Enterprise Partnership has unveiled its financial plan for the country for the next ten years.

"At the moment far too many young people in South Lakeland have to leave home and go work elsewhere. This proposal will mean - if this comes off- young people will be able to stay here, work here and live here"

– Cllr Peter Thornton, Leader of the South Lakeland District Council

I'm the recipient of a Regional Growth Fund bid or a Regional Growth Fund - so I am already being able to expand the factory as a result of that, take on more people to do research and development and younger apprentices and all the rest of it. Now that hopefully is what other people will be able to do across Cumbria with the plan focusing and supporting the Regional Growth Fund effort."

– Charles Crewdson, Gilbert Gilkes and Gordon in Kendal

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Finance plan set to boost Cumbria economy

Cumbria Local Enterprise Partnership have unveiled their finance plan Credit: ITV Border

Cumbria Local Enterprise Partnership has unveiled its financial plan for the county for the next ten years.

Cumbria's LEP, in conjunction with local councils and businesses, is asking the Government for a £23.57million share of £1billion.

What the Cumbria LEP is proposing to do:

  • Help manufacturing, nuclear, and tourism businesses bid for Regional Growth Fund money to expand their business and employ more people
  • Develop the M6 corridor, between the Lake District National Park and the Yorkshire Dales National Park

  • Create 15,000 jobs and boost Cumbria's economy by £600million by 2023

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