AN MP has welcomed European Union funds coming to the Portsmouth area.
Gosport MP Caroline Dinenage said it’s excellent news that parts of the city and Gosport have got assisted area status.
It means firms can bid for extra cash and tax breaks. It is hoped new jobs will be created.
Ms Dinenage said: ‘This is excellent news for Gosport and Portsmouth, particularly in light of BAE’s decision to terminate shipbuilding in the area last year which has had a considerable impact on local industries.
‘I am delighted that our area has been identified as having real potential for business and manufacturing growth and am confident that yesterday’s announcement will provide a much needed boost to the local business and manufacturing communities.’
Ms Dinenage wrote a joint letter with Portsmouth North MP Penny Mordaunt urging the Solent Local Enterprise Partnership to add the areas in their bid.
A significant part of the Isle of Wight has also been added.
The government’s assisted area map is subject to approval by the European Commission.
It is due to take effect later this year on July 1.
The areas were chosen based on economic need and economic opportunity.