Matthew Hancock MP, Minister of State for Skills and Enterprise, visited the West Midlands yesterday (Monday 7th July) as part of the Government’s historic Growth Deals announcement.
Growth Deals are a crucial part of the Government’s long term economic plan to secure a better future and stronger economy for our country.
They are all about firing up our great towns and cities so they can become new economic powerhouses; about backing local businesses so they create thousands of jobs for people and greater economic security for their local areas.
For individuals and families, a Growth Deal will mean better roads and public transport. It will mean more support for small businesses, and more help for young people looking for work. It will mean faster internet links, better skills, more homes – all the things local economies need to thrive and get on. In summary – a stronger economy and a brighter future for our great towns and cities.
Spearheaded by the Deputy Prime Minister, chair of the Local Growth Committee, and Cities Minister Greg Clarke, this is a genuine revolution in how our economy is run. For the first time ever, housing, infrastructure and other funding is being brought together in a single pot, and put directly into the hands of local authorities and businesses to spend the way they know best. It’s local power to build stronger, local economies; taking power and money from Whitehall and giving it to the people and organisations who know the area best.
Minister for Skills and Enterprise Matthew Hancock said: “Through the Growth Deal, £74.1million will be invested in Coventry and Warwickshire, through initiatives such as projects to improve transport links, help nurture burgeoning start-ups and boost skills across the region.
“The investment announced today will help to create up to 1000 jobs and a new Apprenticeships centre and will allow for more than 1000 homes to be built. Complemented by private sector investment, the Growth Deal will help encourage talented people to live and work in Coventry and Warwickshire and will allow local businesses to thrive.”
Jonathan Browning, chairman of the Coventry and Warwickshire Local Enterprise Partnership (LEP), today said: “There are some really important contributions to critical projects in terms of people and skill development, projects in terms of business start-ups and projects in terms of infrastructure and transport connections in the area.
“One aspect which is very true of the LEP is that we’re in no way complacent about where we are or what we need to do.
“We’re looking for more in the future. It is a great step but we need to keep momentum building as we go into the future.”