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 opportunities
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.
Growing Places – the West of England LEP area has been awarded £11.5 million from the Growing Places Fund to set up a Revolving Infrastructure Fund.
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 the initial, second and third round of Growth Deals, the West of England LEP has 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 £285m of additional investment from local partners and the private sector, and together will create at least 9,000 jobs.
West of England Growth Fund (NOW CLOSED)
The overarching objective of the £25m West of England Growth Fund (WEGF) is 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
Bath & North East Somerset Council 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, Bath & North East Somerset Council will ensure that Freedom of Information requests and regulations around Data Protection 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 of Bath & North East Somerset Council.
The expenditure and funding of the LEP is provided at note 46 of the Bath & North East Somerset Statement of Accounts 2015/16.
Supplying Services to the LEP
The LEP follows the procurement process of Bath & North East Somerset Council which are outlined in Selling to the Council. In the interests of openness and transparency in public spending, Bath and North East Somerset Council publishes details of expenditure over £500. LEP expenditure is recorded under ‘Z98 West of England Partnership’.
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.