The Coventry and Warwickshire Local Enterprise Partnership (CWLEP) will lead on the City Deal bid designed to bring new powers and prosperity to the area.
The Government is inviting a second wave of bids for the City Deals after eight cities were successful in bidding earlier in the year.
City Deals have been devised by the Government to give cities and areas the powers and tools they need to drive local economic growth, to unlock projects or initiatives that will boost their economies and to strengthen the governance arrangements.
The LEP will lead Coventry and Warwickshire’s bid on behalf of the districts, the county and the city under the banner of “Re-engineering Engineering”.
Originally Warwickshire had opted not to be included but, after an LEP board meeting this week, has agreed to play a full part.
Sir Peter Rigby, chair of the CW LEP, said: “We are pleased to have been able to persuade Warwickshire County Council to come back into the deal which means we put forward a strong and united front.
“This area has a wealth of leading engineering expertise across a range of sectors – including automotive, aerospace and motorsport – and we see that as a really massive area of potential growth.
“That expertise starts in the north of our LEP area with MIRA and runs right through the heart of our sub region down to Gaydon in south Warwickshire.
“We have a compelling case which we are already working on ahead of our submission early next year.”
The LEP has been instrumental in ensuring the united front.
“This is a perfect example of what an LEP can do,” he added. “We are able to represent the whole of Coventry and Warwickshire regardless of political and administrative boundaries.
“While there are different pressures on different authorities at different times, as an LEP we are able to take a more holistic and independent view.”
He added: “We have very simple aims – to create jobs, wealth and prosperity in the area – and everything we do has to be with that very firmly in mind.
“We have had very good feedback from the Government on our plans and we are very keen to ensure our views are clearly heard by decision makers at Westminster.”