Leader welcomes Local Enterprise Partnership
Cllr Alan Farnell, Leader of Warwickshire County Council, has welcomed the Government announcement that the region has had its bid approved for a Local Enterprise Partnership (LEP).
Business Secretary Vince Cable has given the green light to 24 partnerships, including the Coventry and Warwickshire LEP which will see the councils in the region join forces with business leaders. The partnerships will replace the Regional Development Agencies and are tasked with delivering Government objectives for economic growth.
Cllr Farnell said: “Warwickshire County Council is delighted at the Government announcement, which will return local control and accountability over the future development and growth of our economy. For too long, this sub-region has been grouped into an artificial and inappropriate regional structure, with key decisions on the future of our economy made by unelected individuals in the Regional Development Agency.
“The LEP will enable us to take back control over our destiny, and I look forward to working with key business leaders in the area, and my colleagues in the six other councils that this partnership covers, to take the steps needed for the sub-region to make a strong recovery from these difficult economic times.”
The new concept of Local Enterprise Partnerships offers an exciting opportunity for local areas to play a stronger role in developing and growing their economy. LEPs will have the opportunity to take on specific powers and functions to help drive forward economic growth in a way that best suits the particular local issues and opportunities of an area.
The Coventry and Warwickshire LEP aims devolve greater responsibility on local economic growth to a real functional economic area, rather than an artificial regional boundary. It will also play a key role in shaping the use and allocation of part of the new £1.4bn Regional Growth Fund and helping to create new private sector jobs over the next three years.