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
Growth Deals are a crucial part of our long-term plan to secure Britain's future. They are about firing up our great towns and cities, boosting local economies and driving growth across the country. This historic deal means real change for people in Berkshire and the Thames Valley with big investments including new funding for transport infrastructure that will improve journeys and connectivity, while opening up areas for new housing, redevelopment and growth. Young people will benefit too, with new facilities that will ensure they have the skills to support local hi-tech businesses."