Stewart Jackson MP has welcomed the announcement of new funding to support businesses and infrastructure in Peterborough – helping local businesses to create new jobs and train more young people.

£21 million has been allocated for 2015/16 to Greater Cambridge & Greater Peterborough, the Local Enterprise Partnership (LEP) for Peterborough and the local area.

This money is being put directly in the hands of the Greater Cambridge & Greater Peterborough Enterprise Partnership so local authorities and businesses are able to make sure it goes on the projects which will get the maximum benefit for local people. Projects in Peterborough include;

  • the creation of a Food Manufacturing and Processing Centre of Excellence at Peterborough Regional College –a specialist food manufacturing education resource to train local people who wish to work in the industry, 
  • investment in Phase Two of the upgrading of the busy Bourges Boulevard in Peterborough, 
  • A47 Junction 20 improvements, to improve this key interchange to the north-east of Peterborough and
  • a new ‘Growth Hub’ – a new approach to business support designed to make it easier for businesses across the LEP area to access the advice and funding they need to grow. The investment will be used to provide both virtual support and face to face support.

In total over £6 billion of projects will be supported by the Growth Fund across England in 2015/16, with funding being used to deliver better roads and public transport; increase the support for small businesses and young people looking for work; and improve internet links, skills and housing availability, strengthening the local economy and backing businesses to create jobs.

Stewart Jackson MP commented:

‘This Growth Deal is excellent news for local people in Peterborough. £21 million for Greater Cambridge & Greater Peterborough will make a huge difference in our area. And because it’s going straight to the LEP, local businesses and local authorities have been able to make sure local people get the biggest possible benefit, with much-needed investment for things like our city’s infrastructure and a new ‘Growth Hub’.

‘This will help local businesses create the jobs we need so more hardworking families can have the security of a regular pay packet, and will help ensure our young people have the skills they need to compete in the global race. This is a key part of our long-term economic plan, and will help secure a better and brighter future for people here in Peterborough.’

Greg Clark, Minister for Cities, said:

‘This is a landmark day for local economies across Britain. National growth is the sum of local growth, so for Britain to prosper every part of the country needs to fulfil its potential. But no two places are the same and the people who live, work and do business in each place know best what their area needs to do well. That’s why we’re backing local leaders in Peterborough to create jobs and prosperity in their own area’

For more details of the Greater Cambridge & Greater Peterborough Local Enterprise Partnership please visit http://www.gcgp.co.uk/

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