Greater Brighton City Deal promises £170m investment
Businesses in Brighton and Hove will receive a boost with the signing of a £170m Greater Brighton City Deal.
The deal will hope to drive the area's "tech cluster", with investment coming from central and local government, and private industry.
It was signed by the Cities Minister Greg Clark and council leaders earlier.
Prime Minister David Cameron said the deal was "great for Brighton" by "harnessing the digital and creative skills" the city was known for.
The Greater Brighton area includes the city itself plus Lewes, Mid Sussex, and coastal towns such as Newhaven, Worthing and Shoreham.
Mr Clark said: "Brighton's tech cluster has grown from very little 10 years ago to having 1,500 businesses today.
"It's already making a huge impact on Brighton's economic performance, and this City Deal will help accelerate its growth by ensuring that it can provide the space and infrastructure for high-value creative-technological businesses to grow. It can help turn Brighton into one of the most prosperous cities in the UK."
The £170 million of investment consists of £6.7 million from central government, £9.8 million from the local public sector and at least £155 million of private investment.