City Deals are agreements between Government and an area that gives that area control to:
- take charge and responsibility of decisions that affect their area
- do what they think is best to help businesses grow
- create economic growth
- decide how public money should be spent
Our City Deal was signed on 24th March 2014, securing £16 million Government funding that will create nearly 1500 jobs and unlock over £130 million of investment for our area (coupled with private sector leverage and local match funding).
The funding secured through the City Deal will be allocated to:
- Funding to improve business support services focussing in particular on a new Business Growth Hub service (the LLEP Business Gateway) and small and medium enterprise grant scheme set to create 744 new jobs.
- £2m to support the expansion of Loughborough University Science and Enterprise Park which will create up to 755 new jobs and the safeguard a further 400.
The City Deal document is available to download below.