£113.6m Humber Growth Deal Signed Off

£9.9 million extra funding is being invested in Yorkshire and Northern Lincolnshire. That’s on top of £103 million announced last summer and is all part of the Humber Growth Deal, which was officially signed off today.

MP Greg Clarke, the Minister for Cities, Universities and Science did the honours in Grimsby along with Lord Haskins, Chair of the Humber Local Enterprise Partnership and representatives of the four local authorities. The £113.6 million in total has been allocated to help grow the Humber economy. The first round of Growth Deal funding for investment in the Humber was announced in July 2014 with a further £9.9m announced last month. A further £21.2m of new funding is confirmed for 2015/16 and £64.15m for 2016/17 to 2021. The Government’s contribution will bring forward at least £270m from other sources, creating an investment package of £383.6m for projects in the Humber LEP area. By 2021, it is expected that this Deal will create at least 7,200 jobs and allow at least 3,100 homes to be built. Growth Fund money will be allocated to activity which supports the Humber’s key ambitions - to achieve an infrastructure that supports growth, thriving successful businesses and a skilled and productive workforce. Key projects supported by the Growth Deal include: - Extensive defence work to reduce the risk of flooding where it is proposed to build 6,000 new homes near Scunthorpe.

• Building a new logistics centre at Grimsby Institute to provide courses linked to careers in the renewable sector.

• Re-purposing Hull’s historic Old Town as a thriving hub of activity with café bars, visitor attractions, restaurants and independent retailers, and for the area to become a strong economic presence to the east of the city centre and to play a strong role at the heart of the City of Culture 2017 celebrations.

• Providing specialist managed workspace for business and professional services at the ERGO Centre at the Bridgehead Business Park, in Hessle, to support the development of environmental technologies sector, such as renewable energy and low carbon industries, on both banks of the Humber. A full list of projects supported by the initial and extended Growth Fund Announcements can be found HERE. Lord Haskins, Chair, Humber Local Enterprise Partnership, said: “Growth Deals are a major step forward in handing power and funding back to local areas.

“Signing the Growth Deal marks an important milestone towards building a stronger Humber economy with better transport, more housing and a major boost for jobs. There’s money too for flood defence work, which will bring peace of mind to residents and businesses and enable new development to take place. “This investment also means we can deliver new and innovative training opportunities in our key sectors too. “These projects will make a significant contribution to delivering our economic plan, and we are all working to make sure they are delivered quickly for the benefit of our area.”