A bid for €46m funding to develop the Solent economy has been submitted by the Solent Local Enterprise Partnership (LEP).
The Solent European Structural & Investment Funds Strategy was developed by the LEP after consultation on funding priorities with more than 192 organisations and 300 local people.
Covering the six-years up until 2020, the strategy looks to build on the considerable strengths of the Solent area, with the marine & maritime sector a key target for investment. The approach also highlights the importance of investing in emerging high growth sectors, whilst recognising the importance of employment-rich sectors and the need to link local people to local growth and jobs.
The European funds are one of the three funding streams that together make up the LEP’s £2.4 billion Strategic Economic Plan, titled Transforming the Solent.
Since the draft strategy was submitted to Whitehall last autumn, the Solent LEP has also been allocated €2.9m from the European Agricultural Fund for Rural Development, equivalent to £350,000 per annum over seven years.
Further changes in the final strategy include a broader approach to developing an employer responsive skills system and an increased focus on provision of information, advice and guidance for young people looking to access work.
Solent LEP Chairman Gary Jeffries said: “We are ambitious for the Solent and keen to see the area deliver on its huge potential. This strategy is a key part of our vision for unlocking that potential and driving growth in the Solent economy.
“This strategy would not have been possible without the passion and commitment of local people and our collaborative approach to tap into it. This has been a pioneering process where local people who best understand the area and its needs have been put at the forefront of the process of deciding where to spend public funds to best effect.”
In order to ensure the plan reflected local priorities the Solent LEP organised an extensive consultation process, which saw two events, at the Ageas Bowl and at the National Museum of the Royal Navy at Portsmouth Naval Base each with more than 120 delegates, an online survey and interviews with key partners.
The UK Government will now be working to agree a national funding allocation with Europe and confirmation on funding for the Solent is expected in mid- 2014.
A copy of the Solent LEPs EU Structural and Investment Fund submission is available now at: http://solentlep.org.uk/uploads/documents/Solent_EU_SIF_Strategy_-_FINAL2.pdf
