Local Growth Fund (Growth Deals)
Through their Growth Deal each LEP is required to develop an accountability and assurance framework setting out the arrangements and processes through which the Growth Deal and the Local Growth Fund will operate. The West of England Growth Deal Assurance Framework is currently being reviewed to reflect the changes to goverance body arrangements araising from creation of the West of England Combined Authority.
A further Growth Deal 3 Bid was submitted in July 2016 for £81m of funding and in February 2017 £52.8m was awarded.
Growth Deals provide funds to Local Enterprise Partnerships for projects that benefit the local area and economy.