The heart of Lancashire is achieving its aims towards becoming the fastest growing and commercially dynamic location in the UK. The Preston, South Ribble and Lancashire City Deal is a once-in-a-lifetime £434m funding programme that is helping to transform the local area.
With enhanced road networks, new strategic development opportunities and the HS2 hub planned for the city, we’re going to see some exceptional transformational benefits to our economy.
The deal was signed in September 2013 and is a ten year programme to advance the area at an exponential rate. It is being delivered in partnership with the Lancashire Enterprise Partnership (LEP), Lancashire County Council, Preston City Council, South Ribble Borough Council, Homes England and is supported by Central Government.
The City Deal is an ambitious programme which builds on the underlying strong economic performance of the area and will ensure that the City Deal area continues to grow, by providing strategic transport and community infrastructure to deliver new jobs and housing.
Over the lifetime of the programme City Deal will generate wide range of economic benefits including:
- More than 20,000 net new private sector jobs
- Nearly £1 billion growth in Gross Value Added
- 17,420 new homes
- £2.3 billion in leveraged commercial investment
Skills and Employment
Lancashire Skills Hub are working with the City Deal partners to realise the employment, skills and supply chain opportunities that this once in a lifetime investment will generate for local people, communities and businesses.
The Lancashire Skills Hub established the City Deal Skills and Employment Steering Group to maximise the local economic benefits of City Deal investment by providing a coordinating approach to skills development across the Central Lancashire area.
Unlocking Social Value through City Deal
Through working closely with developers at planning stage we are identifying opportunities to generate added social value and ensure that these benefits are retained within the local economy of Central Lancashire.