The Duchy of Cornwall & the Isles of Scilly get a Local Enterprise Partnership
Ministers in the UK Conservative/Liberal Democrat coalition government have approved the much debated proposal for a local enterprise partnerships (LEP) replacing Cornwall’s submersion in the disbanded South West Regional Development Authority.
This is a move that should see local business and Cornwall Council, Isles of Scilly and other civic leaders tasked with working together to drive sustainable economic growth and create new jobs in their communities.
The LEP announced by Business Secretary Vince Cable was one of twenty four (24) LEPs that were approved from among the fifty six (56) submissions received from across the UK.
Ministers also declared the £1.4bn Regional Growth Fund open for business.
The fund will support the creation of private sector jobs and will particularly support communities currently dependent on the public sector, helping them make the transition to private sector led growth and prosperity.
The announcements form part of a White Paper on Local Growth published today, which sets out the Government’s new approach to rebalance the economy and drive sustainable growth by focusing on three key themes:
Business Secretary, Vince Cable said: “I was delighted that so many of the proposals for local enterprise partnerships showed real imagination and initiative and a genuine desire to drive local economic growth. I am pleased to announce that we are asking 24 of these partnerships to set up their boards and get to work.
Now begins the tough task of putting it into action – bringing together two councils and business on an equal footing to shape the future.
28 October, 2010