£170m to Benefit Businesses in the Leeds City Region
17 August 2015
European funding totalling more than £550m and targeted at local enterprise partnership areas is to be made available to companies across Yorkshire and the Humber in a shift to more localised spending as the government looks to build a Northern Powerhouse.
In the Leeds City Region, businesses will benefit from £170m of European Regional Development funds. The money will support innovation, boost businesses and create jobs, with the Leeds City Region Local Enterprise Partnership and other local partners playing a central role in shaping how the money is allocated and invested.
The Sheffield City Region LEP, the Humber LEP and the York and North Yorkshire LEP will play similar roles and the regions have been allocated £145m, £71.4m and £67.9m respectively.
Northern Powerhouse minister James Wharton said:
“This funding will give the area a chance to contribute more to the national economy and unlock local potential.
"It will ensure we can build a Northern Powerhouse that will have a big and real impact on people’s lives, delivering more jobs, more opportunities and a better future for all."
The 2007-2013 round of ERDF created 16,527 jobs across Yorkshire and Humber from £473m of funding
The new programme is built from the local priorities of England's 39 local enterprise partnerships who know best what is needed to boost growth locally. All funding decisions will be taken within this framework.