April 4, 2012 8.00 am This story is over 158 months old

Lincolnshire LEP gets £3m extra growth funds

More money: The local LEP has been granted extra money to boost broadband and roads infrastructure in Lincolnshire.
Ursula Lidbetter, Chair of the Greater Lincolnshire LEP, said the extra funds are vital for development of the county’s broadband and roads

The region is set to receive an extra £3 million in funding to boost economic growth, benefiting residents in Lincolnshire.

The money comes from the £270 million Growing Places Fund, which in Lincolnshire aims to get projects on hold moving again, therefore boosting other local projects.

The funding will also be put towards better infrastructures such as broadband, utilities and highway improvements.

Originally, Lincolnshire and North Lincolnshire were set to receive £6 millon, but the extra funding brings the total to £9 million.

Chair of the Greater Lincolnshire Local Enterprise Partnership (LEP) Ursula Lidbetter has welcomed the news:

“This new funding is further good news for Greater Lincolnshire as it will allow us to work with a bigger fund,” she said.

“Because the scheme is an evergreen fund, it is only available to front-fund infrastructure with payment from the developer being returned into the pot for future investment.

“The fund will work better for Greater Lincolnshire, the larger it is.”

At the recent Lincolnshire Property and Business Investment Show at the EPIC Centre, Lidbetter stressed how vital a good broadband infrastructure was to the county.

“Investment in broadband is absolutely vital for our county. We have a very rural economy and we’re not going to have dual carriageways across the county, so we need that communication.”

Source: Greater Lincolnshire Local Enterprise Partnership