The North East Local Enterprise Partnerships will receive £47 million as part of the UK government’s investment in local jobs and infrastructure.
Estimated figures show around 4000 new jobs will be created in the region, while 3500 jobs will be protected. 43 local businesses are also set to benefit from the investment.
Work on regenerating town centres in North Shields, Newcastle and Bedlington are also part of the funding plans.
Important projects to support the future of the North East will also benefit. The Tyne Dock Enterprise, InTEGReL Energy Research and enterprise facilities, Next Generation Digital Connectivity and Riverside Sunderland Strategic Infrastructure Works, and Newcastle United Futures will all be supported to help the development of energy resources, infrastructure and leisure in the North East.
Education schemes for young people and environment friendly and sustainable transport will be supported in the region.
The Getting Building Fund (GBF) was set up by the government to help support the economic recovery across the country, which has been impacted by the coronavirus pandemic.
£900 million is being provided to the areas have suffered economically since the pandemic and the government are working with local mayors and enterprises to bolster economic recovery across the country.
Andrew Hodgson, Chair of the North East LEP, said: “This is welcome news from government and demonstrates they have been listening to our region’s collective call for significant investment to help businesses and the economy recover from the impacts of the coronavirus pandemic.
“We will now work closely with the Ministry of Housing, Communities & Local Government to ensure the portfolio of projects are delivered on time and fuel the North East’s economic response to the pandemic.”
The Housing Secretary, Rt Hon Robert Jenrick MP, said: “As we get Britain building, we are also laying the foundations for a green economic recovery by investing in vital infrastructure for local communities, creating jobs and building environmentally-friendly homes with a huge £1.3 billion investment announced today.
“This government is determined to level up all parts of the country and this funding will not only give a much-needed boost to our economic recovery, it will help build the good quality, affordable homes the country needs.”
More information on how the government’s Getting Building Fund is being used is available here: https://www.gov.uk/guidance/getting-building-fund