New figures show multi-billion impact of Local Enterprise Partnerships on region

New figures have shown the multi-billion impact of Local Enterprise Partnerships (LEPs) on the region’s economy in the 10 years since they were created.

Greater Lincolnshire LEP chairman Pat Doody.
Greater Lincolnshire LEP chairman Pat Doody.

LEPs work with businesses and local authorities to encourage economic growth in their respective areas.

Across the country, they have harnessed the expertise of leaders from 2,000 businesses and 180 local authorities, plus 250 further and higher education organisations.

The new figures show that in the Midlands, in the last 10 years, LEPs have delivered £4.1 billion of Government investment into the area, unlocking a further £11.1 billion of match funding from partners.

In terms of the Greater Lincolnshire LEP, chairman Pat Doody said: “Since the Greater Lincolnshire LEP was created we have unlocked over £279 million of additional investment through our funding programmes, delivering and safeguarding thousands of jobs, homes and learners. This has helped our area to bounce back from the pandemic and support future growth and investment across Greater Lincolnshire.

“Among the highlights of the past 10 years are our successful bid for a Humber Freeport, our financial support for the creation of a new medical school at the University of Lincoln, our pioneering series of online jobs and careers fairs, our Food Enterprise Zones, and the leading role we have played in the creation of UK Food Valley, a new brand which will put Lincolnshire firmly at the heart of food production in the UK.”

More than 100 businesses are involved in the partnership’s strategies, and 80 business people sit on its boards.

Mr Doody added: “The Greater Lincolnshire economy has grown by 16 per cent in the last five years, and to support private-sector growth we have engaged with almost 20,000 businesses, providing access to business support and creating new routes for business groups to share crucial intelligence with Government on issues such as the impact of Covid-19, EU exit and future skills challenges.”