Tens of thousands of new homes and other vital infrastructure projects were given the green light with nearly £1.3bn of investment confirmed today (4 August 2020) by Housing Secretary Robert Jenrick. Read Government’s full announcement.
The move is part of Government’s comprehensive plan to deliver upgrades to local infrastructure and boost skills to help fuel a green economic recovery.
This includes the £900m Getting Building Fund, announced by the Prime Minister in June, to invest in shovel-ready housing and infrastructure projects. 300 successful projects across England are being told they will receive a share of the funding.
The investment is expected to deliver up to 45,000 homes, create up to 85,000 jobs and reduce around 65m kgs of CO2 emissions across England.
Five major projects have been green lit to receive a share of Hertfordshire LEP’s £16.8m Getting Building Fund allocation, set to create over 1,500 jobs and unlock over 12,100 sq. m. commercial space within the county. These ‘shovel ready’ projects will support the county’s key growth sectors including film and TV, smart construction, and life sciences.
Subject to further due diligence, the five shortlisted projects will be fast-tracked to support Hertfordshire's economic recovery and provide local employment opportunities. Project details will be announced following Hertfordshire LEP's Board meeting at the end of September.
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 £1.3bn 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.
Mark Bretton, Chair, Hertfordshire LEP and the LEP Network, said: “As business-led partnerships with a ready-made pipeline of projects, LEPs responded swiftly to the Prime Minister’s call for infrastructure projects with more available when Government is ready. The foundations LEPs are building for local recovery in their Five Point Plan will underpin our national recovery.
“In Hertfordshire, our Getting Building Fund investment will help facilitate small business growth through collaboration, develop the skills pipeline for key growth sectors, and provide much-needed commercial space to accommodate inward investment and the expansion of high value sector clusters to bring forth quality jobs for local people.”
Learn more about LEPs’ Five Point Plan for economic recovery
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