£860m recovery deal agreed for South Yorkshire
The renewal fund's been put together to help revitalise the county after the pandemic.
Last updated 22nd Mar 2021
£860m has been set aside to help South Yorkshire recover from the impact of the coronavirus pandemic.
The stimulus plan will see cash put towards improving infrastructure across the region as well as helping businesses.
The funding plan was approved by South Yorkshire Mayor Dan Jarvis, along with council leaders in Sheffield, Doncaster, Rotherham and Barnsley.
It will see the mayor borrow around £500m to help create a South Yorkshire Renewal Fund.
A further £360m investment will go towards infrastructure, new homes, apprenticeships, flood defenses and better transport links.
Amongst projects to get funding will be the revamping of Barnsley Town Centre and the Heart Of The City project in Sheffield.
It'll also fund an acceleration of work on new flood defenses in Bentley, Doncaster.
Sheffield City Region Mayor Dan Jarvis said: “Today we invest in South Yorkshire’s future. We will not be blown off course by Covid-19."
“Our plan sends a message of ambition and confidence: that South Yorkshire’s best days lie ahead of us, and that we’re making our region an even better place to live, work and invest."
“Rather than Westminster calling the shots, it means local leaders and I can deliver on the priorities that matter to people in South Yorkshire and improve people’s lives."
He added: "This is the power of devolution, and we will use it to deliver a new deal for South Yorkshire.”