1 Growth Deal 2 Proposals – Programme Indicative Focus Commentary Outputs and Outcomes Budget Business £2,000,000 Capital grants to SMEs, largely in our The programme will be informed by, and build on £10 million Private Sector Growth Fund key sectors, to remove barriers to the best practice of, the Worcestershire Investment by 2020 business growth to include Expansion Fund the Redundant Building Grant. 200 New Jobs by 2020 refurbishment of premises, new premises, new equipment, etc. Skills Capital £2,200,000 The programme will be run along The META project (South Worcestershire 600 new Apprenticeships Fund similar lines to the SFA Skills Capital College) already proposed and well received by relating to Key Sectors by programme and will include investment Government will be funded under this programme. 2020 in colleges and training providers to The LEP executive will work with FE college 3000 Higher Level skills enable the delivery of skills principals to develop a programme of investment. qualifications relating to Key programmes addressing LEP’s Sectors by 2020 strategic objectives. Employment £3,000,000 The programme will be used to unlock The Vale Park project already proposed and well 24ha of serviced development and Housing the development potential of sites received by Government will be funded under this land by 2020 Infrastructure across the County though the provision programme. £90 million of private sector Fund of infrastructure. This relates to sites A further scheme likely to be supported this investment by 2025 beyond the 4 Game Changers. scheme is which was Redditch Eastern Gateway 6000 jobs on serviced by identified within the Transport Infrastructure 2025. Programme in the Strategic Economic Plan.. Other sites supported by the programme will be consistent with the aforementioned SEP Transport Infrastructure Programme and the SEP City and Town Centre Investment Programme. Total £7,200,000
1 – Growth Deal 2 Proposals Programme Indicative Budget Focus Commentary Outputs and Outcomes Business Growth Fund £2,000,000 Capital grants to SMEs, largely in our key sectors, to remove barriers to business growth to include refurbishment of premises, new premises, new equipment, etc. The programme will be informed by, and build on the best practice of, the Worcestershire Expansion Fund the Redundant Building Grant. £10 million Private Sector Investment by 2020 200 New Jobs by 2020 Skills Capital Fund £2,200,000 The programme will be run along similar lines to the SFA Skills Capital programme and will include investment in colleges and training providers to enable the delivery of skills programmes addressing LEP’s strategic objectives. The META project (South Worcestershire College) already proposed and well received by Government will be funded under this programme. The LEP executive will work with FE college principals to develop a programme of investment. 600 new Apprenticeships relating to Key Sectors by 2020 3000 Higher Level skills qualifications relating to Key Sectors by 2020 Employment and Housing Infrastructure Fund £3,000,000 The programme will be used to unlock the development potential of sites across the County though the provision of infrastructure. This relates to sites beyond the 4 Game Changers. The Vale Park project already proposed and well received by Government will be funded under this programme. A further scheme likely to be supported this scheme is Redditch Eastern Gateway which was identified within the Transport Infrastructure Programme in the Strategic Economic Plan.. Other sites supported by the programme will be consistent with the aforementioned SEP Transport Infrastructure Programme and the SEP City and Town Centre Investment Programme. 24ha of serviced development land by 2020 £90 million of private sector investment by 2025 6000 jobs on serviced by 2025. Total £7,200,000