A group working to bring investment and jobs to north Hampshire and Surrey has been handed £210,000 by the Government to get up and running.
The Enterprise M3 LEP (Local Enterprise Partnership) was set up in February, and is being spearheaded by Basingstoke and Deane Borough Council. Earlier last month Business Minister Mark Prisk announced a £5m fund that LEPs across the country could apply to for start up cash and on August 17, Enterprise M3 found out they had been successful in their bid.
Enterprise M3 chairman, Geoff French, of the global design and engineering firm URS Scott Wilson, based in Alencon Link, said: “I am absolutely delighted that we have been successful in our bid to the LEP start-up fund, this money will be used to establish Enterprise M3 and ensure we are in a very strong position to deliver economic growth to north and mid-Hampshire and south west Surrey, which will make a real difference to the people who live and work in the area.
"The money will be used for data collection and meetings with local businesses to help Enterprise M3 achieve its aim of economic success across the region. ”
Basingstoke and Deane Borough Council said the money was allocated according to a competitive bidding process and had been heavily over-subscribed. The group is aiming to break down barriers affecting economic performance in the region, and will be focusing on issues like the need for faster broadband, and access to support for new business start-ups.
More than 300 businesses turned out in April for the first Enterprise M3 LEP conference. The Enterprise M3 scheme will let Basingstoke draw upon £1.4bn of Government cash. LEP’s were introduced by the Government in June last year to kick-start regional growth and create jobs. They replaced nine Regional Development Agencies scrapped by the Government.
Enterprise M3 brings together councils and businesses in north Hampshire and north west Surrey. The partnership covers an area responsible for producing £25bn of goods and services. It represents 57,000 businesses, 537,000 jobs and a population of more than one million people.
For more information about the LEP, visit www.enterprisem3.org.uk
