The benefits for Lancashire
The Lancashire Growth Deal aims to realise the growth potential of the whole of Lancashire, building on key local economic assets including the universities and colleges, the Lancashire Advanced Engineering & Manufacturing Enterprise Zone, the Preston and South Ribble Lancashire City Deal, and the high value business clusters in Central and East Lancashire.
Improving transport connectivity through new roads, motorway junction and rail improvements, to support growth in jobs and homes particularly in Preston, East Lancashire, and Blackpool and the Fylde coast is a key component of this growth deal. There is also a strong focus on Blackpool, with a combination of transport and housing projects designed to support and sustain the visitor economy and address the quality and offer of private rented sector housing
According to estimates by the LEP, the Growth Deal will bring to Lancashire:
- Up to 11,000 jobs
- Up to 3,900 homes
- An additional £1.2 billion of new private sector investment
In addition the LEP is committed to encourage and support organisations involved in the delivery of LEP programmes to lever greater social value by integrating added value activity into procurement and commissioning processes.
The benefits for local businesses
As well as much-needed road improvements, small businesses in Lancashire will benefit from enhancements to BOOST, the Lancashire Growth Hub, with additional specialist advice on how they can grow and access the markets and government support they need.
A series of road improvements will link high value business clusters in Central and East Lancashire to the whole of the LEP area to release economic activity and housing potential, whilst the strong focus on Blackpool, will help support and sustain the many businesses in the area including those in the visitor economy.