Growing Places fund to kick-start economy

By Matthew Bates 29/03 Updated: 29/03 11:14

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Martin Yardley from Coventry City Council and LEP chair Denys Shortt with Warwickshire councillors Alan Cockburn and Alan Farnell.

A MULTI-MILLION pound fund could kick-start projects in the city.

Short-term infrastructure schemes are set to benefit from the £12.8milliion pot of cash handed to the Coventry and Warwickshire Local Enterprise Partnership (LEP) by the government.

The Growing Places project will see investments of at least £1million per project.

The city council said examples of potentially successful projects included property, highway improvements and flood defence systems. Priority will also be given the projects which can start before the end of the year.

The cash will be given in the form of a low-interest loan from Warwickshire County Council, which is handling the process, and all cash made back will be pumped back into future projects.

Denys Shortt, chair of the LEP, said: "This is very much a kick-start programme to allow projects which could be stuck for a variety of reasons, to really move ahead with the aim of delivering a boost to jobs and economic growth as quickly as possible.

"There will be a variety of reasons why some infrastructure and development schemes are not progressing as quickly as they might in easier economic times, and that is how the Growing Places Fund can help."

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