Minister and Local Enterprise Partnership Sign Off Humber’s £113.6m Growth Deal

The Grimsby Institute’s new Environmental Logistics Learning Hub was in the news today when the Rt Hon Greg Clark MP, Minister of State for Universities, Science and Cities together with Lord Haskins, Chair, Humber Local Enterprise Partnership and representatives of the four Humber local authorities signed off the £113.6M 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 (January 2015) amounting to £113.6M. 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, which are 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
  • Towards 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 and
  • 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 at https://www.gov.uk/government/publications/humber-growth-deal.

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.”