The West of England LEP works to bring funding to the West of England region to support economic growth, either by bidding to government on behalf of the area or supporting other organisations’ bids.
The funds are matched by additional investment from local partners and the private sector, building on the strength of the region to create more jobs and a skilled workforce in the West of England - the home of knowledge, innovation and quality of life.
Current funding programmes
City Deal including creation of the Economic Development Fund – to help deliver an additional 40,000 jobs and over £1 billion of investment to support local growth over the next 30 years thanks to new financial powers.
Revolving Infrastructure Fund – this fund is worth £56.7m and is made up of two elements including £16.9m from the Growing Places fund and £39.8m from the Regional Growth Fund (RGF).
Local Growth Fund - Through Growth Deals, the West of England LEP secured a total of £283.5m from the government’s Local Growth Fund that will be invested in the West of England from 2015 – 2021. This funding will be matched by over £200m of additional investment from local partners and the private sector, and together will create over 9,000 jobs.
The schemes which have been fully approved for funding through the Local Growth Fund are shown on an interactive map.
West of England Growth Fund (WEGF) - The overarching objective of the £25m Fund was to create or safeguard private sector jobs and to facilitate additional, new private sector investment into the economy. The programme is now closed to new applicants and we are in the final phase of monitoring and evaluation. For further information please see the programme overview and the list of companies awarded funding.
Accountability and transparency
The West of England Combined Authority, WECA is the nominated Accountable Body for the West of England Local Enterprise Partnership and is responsible for managing the funding streams.
As the Accountable Body WECA will ensure that Freedom of Information requests are dealt with in line with relevant legislation. Any complaints related to the arrangements, processes or decision making of the West of England Local Enterprise Partnership will follow the complaints policy WECA.
The expenditure and funding of the LEP is provided at note 46 of the Bath & North East Somerset Statement of Accounts 2016/17. Budget information and annual accounts for 2017/18 onwards will be published on the Combined Authority's website.
Supplying Services to the LEP
Selling to the Council – All contract opportunities above £5,000 are managed through the Supplying the South West e-procurement portal. The Combined Authority's website provides further information on the process and how to register for email alerts.
Details of expenditure - where spend is over £500 details are listed on the Combined Authoriy's website.
LEPs are driving economic growth across an economic area. They provide a means for local authorities to work together with business in order to quicken the economic recovery.