The Oxfordshire Local Enterprise Partnership today agreed an historic Growth Deal with the Government. The Deal will see at least £108.6 million invested in Oxfordshire. £15.7m has been confirmed in the first year, and as part of the Government’s on-going commitment to the Oxfordshire LEP it has provided an indicative award of a further £92.9m of funding from 2016/17 onwards. This deal will help to create up to 5,700 jobs, allow over 4,000 homes to be built and generate over £100m in public and private investment.
Key features of the deal are:
The Oxfordshire Growth Deal is part of a national £12 billion long-term programme to revitalise local economies. The deals are the latest and greatest example of the British economy being rebuilt from the bottom up, and sharing the benefits of the recovery around the country. Local businesses and council leaders have been invited to open discussions immediately on the next set of projects to be funded, building on the momentum that has been established.
Prime minister David Cameron said: “Growth Deals are a crucial part of our long-term plan to secure Britain’s future.
"For too long our economy has been too London-focused and too centralised. Growth Deals will help change all that. They are about firing up our great towns and cities, boosting local economies and driving growth across the country.
“This historic deal means real change for Oxfordshire including better transport links to connect businesses and ease commutes, reducing the risk of flooding to protect homes and businesses, and investing in skills in key sectors such as science, engineering and technology.
“By trusting local people, backing business and investing in infrastructure, skills and housing, we can create thousands of new jobs. And that means more economic security, peace of mind and a brighter future for hardworking people across Oxfordshire”.
Deputy prime minister Nick Clegg said: “The Oxfordshire Growth Deal will create thousands of jobs, provide incredible new training opportunities for young people, build of new homes and improve transport links across the region for people and their families; building a stronger economy and a fairer society.
“We’re placing the power and money in the hands of people in Oxfordshire who know how to spend it best, making a real difference to local communities.”
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