A £900 million Getting Building Fund was announced earlier this month by Government. The fund aims to support the delivery of shovel-ready infrastructure projects as well as creating more local jobs and supporting the green recovery across the UK.
The fund is being targeted in areas that are currently facing the biggest economic challenges because of the coronavirus crisis.
The funding will enable:
- town and city centre modernisation through targeted infrastructure investments unleashing their longer-term economic potential;
- investment in physical connectivity to improve the functioning of the local economy;
- investment in innovation ecosystem including through improvements to research and development facilities driving up business productivity;
- improvements to human capital; and
- improving digital connectivity, in order to support economic performance, particularly in more isolated areas.
Over 300 successful projects in England will receive a share of the £900 million fund. The projects will be delivered through LEPs.
The Getting Building Fund is a part of a larger £1.3bn investment package.
To view the summary of allocations and details of allocations by area please click here.