The LLEP’s ESIF allocation is £111million for the programme period. This will need to be matched by further £111million, bringing the total value of the programme to £222million.
Our priorities in the ESIF have been aligned with the strategic priorities of the SEP. Key areas of alignment when preparing this ESIF include:
- Driving economic growth to support economic recovery and help reduce the north-south divide in terms of economic performance;
- A focus on private sector job creation and associated GVA uplift;
- Promoting higher level skills, including through vocational routes; and
- Reducing benefit dependency by supporting people into employment.
The core emphasis of EU Structural Funds will link the supply of economic assets within our economy to current and future opportunities and demand. We will achieve this through a range of interventions including:
- stimulating SME growth through business support
- access to finance
- incubation and innovation
- investing in initiatives to support our businesses base to further adapt to a low carbon operating environment
- supporting local people to access employment opportunities through skills development and programmes
The ESIF Strategy allows us to make long term investment decisions within the scope of our SEP that sit outside the cycle of short term political budgets and we will therefore seek to:
- commission high impact and scaled programme activity
- make early long term investment decisions rather than reliance on short term, single issue projects.
- enter long term arrangements with national Opt-In partners to deliver enhanced and bespoke services
Our ESIF strategy is available to download below.