A £29.45 million cash boost for the Greater Lincolnshire economy could see the Boston area get a share of £7.5 million for road improvements and skills provision.
As part of the latest round of Local Growth Funding, or Growth Deal, from Communities Secretary Sajid Javid announced today (Thursday), £1million has been set aside for the A17 Sutterton Roundabout Pinchpoint scheme - which aims to improve the flow of traffic on the A16 and A17.
The scheme, announced in January, will see the approach lanes widened to increase traffic flow and better signage and road markings, while the street lighting on the roundabout will also be upgraded. Work is expected to be completed in late spring 2017.
Boston is also set to get a share of a £6.5 million Skills Capital Programme which aims ‘to deliver high-quality skills provision for people in Greater Lincolnshire’.
The aim is to ‘enable a flexible and appropriate response to the outcomes and recommendations of the current Area Review and will address Higher and Further Education priorities and opportunities’.
The Greater Lincolnshire Local Enterprise Partnership chairman Ursula Lidbetter said: “I am delighted to announce with Government today that the Greater Lincolnshire LEP has secured a further £29.45 million in Growth Deal funding for our area.
“This announcement marks a further step in the growth of our economy and is an endorsement of our Strategic Economic Plan. In every experience I have had of backing local people and local initiatives, the results have exceeded expectations.
“Our LEP will be focusing closely on the schemes announced today and on delivering our growth promises.”
The latest round of cash also provides money for a new Centre for Health Science at the University of Lincoln, support for the establishment of three Food Enterprise Zones in Holbeach, Hemswell Cliff and Grimsby.
Other projects will also benefit which aim to improve educational attainment, create jobs, build homes or improve infrastructure.
This latest award of Local Growth Funding is in addition to £126.06 million of growth-related money already awarded to the Greater Lincolnshire LEP since July 2014.
The LEP says the total funding allocation could help to ‘create or safeguard more than 7,300 jobs, build 7,500 homes and attract £186 million in additional private sector investment over the next 10 years’.
Local Growth Minister Andrew Percy MP said: “This latest £29.45 million funding will make a real difference to people in Greater Lincolnshire. As well as creating new jobs and supporting businesses, we’re investing in the next generation with a new skills programme to improve access to further education. It will give young people the tools they need to reach their potential.
“It is further proof that we will back the people of Greater Lincolnshire with resources to get the region firing on all cylinders, now and in years to come.”
Today’s announcement brings total Growth Deal funding secured for Greater Lincolnshire since July 2014 to £155.45 million.