MORE than £ 200 million has been invested in Cheshire and Warrington, including new improvements to Junction 8 of the M62 at Omega and the new Warrington West train station.
Now, the Cheshire and Warrington Local Enterprise Partnership (LEP) is celebrating the transformative impact of investing in 61 projects in the area as its five-year Local Growth Fund program comes to an end.
The funding is intended to create 16,000 new jobs and 20,000 apprentices to acquire new qualifications, while at the same time promoting the region’s innovation economy in the areas of cleantech and life science. The removal of traffic jams and the opening up of development sites are also a priority in the investment program.
Major projects are under management for £ 53million on the £ 92million Congleton Link Road as part of a larger plan to create 3,000 new jobs, 2,475 new homes and 120,000 m² of commercial space in the area.
Major funding for public transport modernization included £ 13.5 million invested in the new Chester Bus Exchange as the first part of the £ 70 million Northgate program, while approximately £ 6.5 million in the new Warrington West station flowed.
The region’s transport infrastructure has also been improved, with around £ 5.85 million invested in replacing the Sydney Road Bridge in Crewe, worth £ 10.4 million, which is now two-lane and has a pedestrian path to avoid traffic jams in reduce the area. Similarly, LEP Cheshire and Warrington contributed £ 3.3 million to redesign the existing Crewe Green Roundabout to increase capacity and reduce congestion. Improvements to Junction 8 of the M62 to ease congestion around the Omega Business Park, which employs over 10,000 people, have received £ 4m in support for the £ 8.8m program.
The government funding package for the 2015 Growth Accord provided the resources after the Cheshire and Warrington LEP identified seven key areas that should be developed to bolster the region’s position as England’s second highest performing economy outside London. These priority areas are: transport, low carbon energy, life sciences, business development, skills and regeneration.
The Local Growth Fund has also been used to promote low carbon energy development and a host of other programs that are helping to improve our living and working conditions and paving a pathway to reducing greenhouse gas emissions by 540,000 tons across the region.
The impact will be achieved through investments by the Local Growth Fund in sustainable initiatives such as the Business Energy Efficiency Program (BEEP), which helps SMEs reduce energy consumption, improve efficiency and reduce greenhouse gas emissions that are responsible for global warming. Flagship programs include supporting Storengy’s £ 1 million green hydrogen generation and filling station in Middlewich.
As part of Cheshire and Warrington LEP’s commitment to the strengths of the sector, the company has now invested £ 10m in a £ 31m life science investment fund to help boost more startups in Alderley Park.
The modernization of the region’s educational infrastructure includes around 7,500 m² of new learning space, which was developed as part of the Local Growth Fund program. Key projects include the Reaseheath Advanced Engineering and Agri-Tech Center, a £ 7 million facility in Nantwich that uses cutting edge technology to teach precision agriculture. AstraZeneca Macclesfield’s STEM center, where immersive digital content promotes understanding of advanced manufacturing and research, was also supported.
A £ 3.8 million grant was also granted to support the first phase of the Winsford Industrial Estate expansion to provide 1,800 new jobs and 58,000 square meters of commercial space.
Minister for Regional Growth and Local Government Luke Hall MP said: “We have now supported 61 projects in Cheshire and Warrington with £ 201 million investments from the Local Growth Fund. This funding has opened up many new opportunities for the region, including 16,000 new jobs and helped 20,000 learners acquire new skills and abilities. These projects have made the region an attractive place to live, work and visit for future generations. “
Clare Hayward MBE DL, Chairwoman of Cheshire and Warrington LEP, said: “The £ 201 million investment in local growth finance is about a better future – one that builds on our existing strengths but more on skills , Sustainability and opportunities. We make strategic investments that generate growth while improving the region’s environmental footprint, which will help us today and in the future.
“The investments are already making a real difference for local people and businesses, improving the quality of life, improving infrastructure and creating employment and training opportunities.
“The magnitude of the impact is illustrated by the fact that the Local Growth Fund generated £ 8 additional investment for every £ spent, with the total value of additional public and private investment reaching £ 1 billion. This result would not have been achieved without our intervention and absolute commitment to ensure that Cheshire and Warrington continue to outperform most of the UK. “
