The Thames Valley Berkshire Local Enterprise Partnership (LEP) today agreed an historic Growth Deal with the Government, which will see £96.9million invested in Thames Valley Berkshire.
The Thames Valley Berkshire Growth Deal is part of a £12 billion long-term programme to revitalise local economies. The deals are the latest example of the British economy being rebuilt from the bottom up, and sharing the benefits of the recovery around the country.
£17million has been confirmed in the first year, while an indicative award of a further £79.9million has been allocated from 2016/17 onwards. The deal will create up to 17,000 jobs, 10,000 homes and leverage a further £20million in public and private investment.
The key features of the deal are:
- Thames Valley Berkshire LEP has also landed £250k funding for continuation of the Thames Valley Berkshire Business Growth Hub.
- Delivery of essential housing at flagship sites in Newbury, Wokingham and Bracknell to help young people across the area get on the property ladder.
- Three new 'Solutions Labs', which will equip our young people with Science, Technology, Engineering and Maths skills to support our tech-focused business base and the new Thames Valley Science Parl.
- A package of road and public transport investments to improve connectivity and reduce journey
More than £10 billion is to be invested in railways across the south. Network Rail says the five year programme will mean more trains, improved railway stations and additional seats for passengers.
Mike Pearse spoke to passengers and Transport Minister Baroness Kramer about the investment.
£5 million will be spent on a high speed train service from Ramsgate to London, as part of a £40 million investment in East Kent. It follows the allocation of a growth fund after the loss of more than 1,700 jobs from the Pfizer site in Sandwich.