Local Growth Fund (Growth Deals)
Through their Growth Deal each LEP is required to develop an accountability and assurance framework setting out the arrangements and processes through which the Growth Deal and the Local Growth Fund will operate. The West of England Growth Deal Assurance Framework has been approved by government and will be reviewed annually.
A further bid has been submitted for £81m of funding through Growth Deal round 3 which would lever in £210m from partners and create a further 6,500 jobs. The outcome of the bid is expected to be known later this year.
Growth Deals provide funds to Local Enterprise Partnerships for projects that benefit the local area and economy.