The Lancashire Growth Deal is a £320M programme, secured by the Lancashire Enterprise Partnership from Government to support economic growth across Lancashire.
As one of the largest Growth Deal settlements allocated to an Enterprise Partnership, the deal funds a wide range of high-profile capital projects, all aiming to realise Lancashire’s potential for economic growth.
The programme is a key part of the Northern Powerhouse initiative and is driving growth across the county and is helping generate up to 11,000 new jobs, create 3,900 new homes and attract £1.2 billion of additional public and private investment for Lancashire.
All Growth Deal projects have leveraged public and private sector investment through local contributions and in the delivery of jobs, housing and economic growth.
Growth Deal: Skills Facilities
Projects to create world-class higher education, research and vocational skills provision and facilities have benefited for the LEP’s Growth Deal Programme, these include UCLan’s flagship Engineering and Innovation Centre, the national Energy HQ in Blackpool, Lancaster’s Health Innovation Campus and the Advanced Manufacturing Research Centre – see all projects here.
Unlocking Social Value through Growth Deal
The LEP’s Growth Deal programme is central to delivering Lancashire’s Strategic Economic Plan. The plan aims to close local productivity and growth deficits and create new higher value employment and business growth opportunities. The LEP has a clear focus on securing inclusive growth with a commitment to delivering maximum social value from its public investment. The LEP is one of the first to track the social impacts of its Growth Deal investments through its Social Value Framework and has developed a Social Value Toolkit to assist developers working across the Growth Deal project portfolio.
To date this approach has succeeded in generating over £54.1 million worth of added social value through the creation of jobs, apprenticeships, training opportunities, local procurement and wider community benefits.
These innovations have been complemented by major investment in Lancashire’s skills infrastructure to address current and emerging business demands.