Solent LEP states its three priorities to grow economy

THREE major schemes '“ including a marine engineering workshop '“ have been prioritised for funding from the Solent Local Enterprise Partnership.

Monday, 1st August 2016, 5:55 am
Updated Thursday, 25th August 2016, 5:07 pm
Gary Jeffries, Solent LEP Chairman

The LEP said that the BAE Systems Marine Engineering Workshop in Portsmouth, the Stubbington bypass and the next phase of development at Centenary Quay in Southampton were the projects it would be focusing on to drive growth in the area.

The combined value of the three projects would be £115m.

The Solent LEP is now working with central government and local partners to agree a £43m funding package for the delivery of these transformational schemes.

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The proposals seek to build on investment already underway through the £151.9m Solent Growth Deal.

The deal will unlock a further £400m public and private sector investment across the area, create 6,000 new jobs and enable 11,000 new homes to be built.

Gary Jeffries, Solent LEP chairman, said: ‘Through the Solent Growth Deal, we have invested more than £40m across the area in 2015 and work is already underway to invest a further £44m in 2016 to stimulate further growth.

‘We are delighted to be able to build on this momentum by prioritising these critical projects.’

He said the £9m BAE Systems Marine Engineering Workshop represented the next phase of LEP investment in developing a world-class skills base in the Solent.

The advanced training facility for higher level skills, including level 4 apprenticeships in engineering, in Portsmouth will support the arrival of the new QE class carriers.

The Stubbington bypass scheme has an estimated value of £34m. It will improve access to the Gosport Peninsula, which is home to the Solent Enterprise Zone.