PWaveney MP Peter Aldous today welcomed the Government’s announcement of the second round of Growth Deal funding for Local Enterprise Partnerships [LEPs].
For the New Anglia LEP, the new round of funding will deliver up to 2000 new jobs and 750 homes across Suffolk and Norfolk by 2021 and has the potential to unlock a further £120 million through public and private sector involvement.
In Lowestoft, funding has been secured for the following projects:-
Enterprise Zone Lowestoft - £2.5 million has been awarded for future infrastructure investment in the area, such as on utilities, internal roads and the construction of commercial and business units. This support will enable the Enterprise Zone to build on the good start which it has made, which includes Essex and Suffolk Water’s new headquarters offices on Riverside, the new business units at Mobbs Way and the start on the adjoining Wolseley Business Park.
Lowestoft Flood Alleviation Scheme - Mr Aldous has secured a commitment from the LEP to provide funding of up to £10 million for the Lowestoft Flood Alleviation Scheme. This follows on from last month’s announcement of grant of £7million from the Department of Environment Food and Rural Affairs and £3 million from Suffolk County Council and will enable an early start to be made on the project.
Mr Aldous commented on the announcement by saying:
“The Growth Deal is vital for boosting private sector growth in the Waveney area by supporting businesses and creating more jobs. It is great news that the Enterprise Zone continues to grow and attracts more businesses to the area.
I saw at first hand the impact of the floods in Lowestoft in December 2013 and it is good news that funds have been made available for new permanent flood defences to be built. The flood alleviation scheme will not only protect those properties that were badly damaged in last December’s storm surge but will attract new investment and jobs to the town.”
Prime Minister David Cameron said:
“Giving local communities the power and the money to unlock growth and development and make the spending decisions that work for them is a key part of our long-term economic plan to secure a brighter future for Britain and ensure a recovery for all.
“Projects such as the improvement of Lowestoft flood defences, which the local MP Peter Aldous has campaigned for, will make an important difference to the area. That’s what Growth Deals are all about, backing local people and investing in the infrastructure, housing and skills that will drive forward local economies, create more jobs and opportunities for hardworking people and supercharge all parts of our country.”