Growth fund hands out £207m to 100 projects

A funding scheme has handed out £207.9 million to 100 projects in Greater Birmingham.

GBSLEP's Local Growth Fund programme, which launched in 2015, has now committed all of its funds to 100 key projects across the Greater Birmingham region, including £20 million towards Birmingham City Council 's build of the Alexander Stadium in time for the Commonwealth Games 2022, £6 million towards the new extension to the world prestigious Symphony Hall and £500,000 million towards a new exhibition space at the National Memorial Arboretum in Staffordshire.

Tim Pile (pictured), chair of Greater Birmingham and Solihull Local Enterprise, said: "We are proud to have reached this significant milestone and have such strong figures to back up the impact we have made.

“We have listened to our businesses and worked with our partners in local authorities, the private and academic sectors to ensure local insight is used to make sustainable investment decisions.

"Through our £207.9m Local Growth Fund we have created thousands of jobs and opportunities in our key growth sectors of Low Carbon, Health Technologies, Creative, Professional Services and Advanced Manufacturing. We have also committed millions of pounds to making better places for everyone to work in and to live in. At the heart of all this is our mission to create inclusive economic growth.

“The last 12 months have been incredibly challenging for everyone but we have continued to focus on making a positive impact. As restrictions start to ease, our partners and the businesses we work with are in a strong position to bounce back.

“Thanks to our collaborative approach, we feel that we have been able to target Local Growth Fund investments where it really matters, planting the seeds for a brighter future as well as making an impact for the here and now."