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Local Growth Fund

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Local Growth Fund

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Local Growth Fund

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Local Growth Fund

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Local Growth Fund

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Local Growth Fund

Local Growth Fund

 

What is the Local Growth Fund?

The Government awarded a total of £265million to the South East Midlands LEP (SEMLEP) area from 2015 to 2021 for capital projects to support growth.
It is often also referred to as the Growth Deal. The SEMLEP Board is responsible for the funds and they ensure that the funds are spent properly.  To learn more about how decisions are made and how the money is monitored, please read SEMLEP's 2018 Assurance Framework.

The current approved programme of 38 projects are delivered under three themes:

  • Business – supporting productivity
  • People – enhancing skills
  • Place – building transport schemes and enabling housing and employment infrastructure

The Local Growth Fund investment programme aims to deliver over 40,000 jobs and 30,000 homes by 2030 as well as thousands of learners.

Take a look at the projects in our investment programme section

New 2018 LGF bidding round

On 16 July 2018, SEMLEP's Board approved a new bidding round for capital investment opportunities through the Local Growth Fund.  

We are looking for investment-ready projects that will contribute to economic success for our communities.  Projects will deliver high-value employment opportunities and further strengthen our area’s business strengths, creativity and skills capabilities to compete on a world-stage.  

What is the project specification? 

Successful projects must be able to demonstrate how they meet the objectives set out in the South East Midlands Strategic Economic Plan > where innovation fuels growth. They should also reflect the emerging themes of the Local Industrial Strategy and contribute to the development of the Oxford-MK-Cambridge Growth Corridor. 

There is no maximum or minimum project size but all projects will need to be investment-ready for Spring 2019. Funding will be complete by end March 2021.  We do not have a fixed intervention rate. 

How and when will decisions be made? 

SEMLEP will make initial approval decisions by end of December 2018 and aim to complete a second stage of project due-diligence by end April 2019.

All projects will be appraised by an independent appraisal expert and SEMLEP will follow the robust governance standards expected with investment of public money set out in our 2018 Assurance Framework. 

Closing date for applications is 5pm, Monday, 1 October 2018. Completed applications should be sent electronically to LGF@semlep.com

Application advice and assistance 

To support potential applicants SEMLEP, supported by Hatch Regeneris has hosted events to provide detailed guidance for project leads who want to proceed with their application. View the presentation from these events here.

Take a look at the Q&A from the previous events. We will update this document.

CLICK HERE

Confidential telephone slots

For individuals unable to attend the event, Hatch Regeneris are available for a confidential call. Time is available on 21 September. See times and book your slot today. click here.  

What more information do I need? 

Visit the Local Growth Fund section of our resources hub to access appraisal information and tools to assist you in your application. This includes further information about assessing market failure and tools to assit in calculating net GVA and learner outcomes. 

Download: LGF application proforma

Download: LGF 2018 Assessment Framework

Download: SEMLEP's 2018 Assurance Framework

Download: South East Midlands Strategic Economic Plan > where innovation fuels growth 

More information: emerging themes for the Local Industrial Strategy

Need more information?

If you want to know more about any aspect of the Local Growth Fund, or the projects please contact Judith Barker, Director of Programmes and Governance on judith.barker@semlep.com

For information about individual project appraisals, monitoring and evaluation, go to the Local Growth Fund section in our Resources Hub. Download our Local Growth Fund communications protocol. 

Local Growth Fund Investments

Read about our LGF-funded projects that are working to grow business, people and places in our Investments Programme section.

Read More

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