Coast2Capital

Press Release no. 23

Date: 2nd February 2012

Government has given Coast to Capital's Growing Places Fund the green light and in doing so has increased the allocation to £16,024.526 (previously £15,083,882).

This increase is due to a review of 2010 Population statistics and the possible inclusion of Epsom and Ewell Borough Council into the C2C Partnership. Coast to Capital Local Enterprise Partnership, Epsom and Ewell Borough Council and Gatwick Diamond Initiative are currently in conversation regarding the possible inclusion of Epsom and Ewell within the Coast to Capital LEP.

A government spokesman said: "The Growing Places Fund allocation for Epsom and Ewell has been included within Coast to Capital's allocation for presentational purposes. We are clear, however, that receipt of this funding by the Coast to Capital LEP is subject to Ministers receiving formal notification from the LEP that the Board have approved Epsom and Ewell's membership."

Government also confirmed their acceptance of the Pre-Quaflification Questionnaire (PQQ) submission, which now opens the way for Coast to Capital to work quickly with possible projects.

Interest in the Coast to Capital Growing Place Fund has been high, with a significant number of potential projects submitted by the deadline, 31st January 2012.

Tim Wates, Vice Chairman of Coast to Capital said, "The Growing Places fund is an exciting initiative that will unlock stalled projects. Enabling these projects to start will boost economic growth.

The fund is designed to revolve so it is expected that most or all of the money will be paid back, and we are aiming for a return on our investment."

Coast to Capital's Growing Places Investment Committee, with the help of consultants Genecon LLP, will begin the process of assessing the proposals.

... ends ...

For press information contact:

Gary Rustell, Communications & Engagement - Coast to Capital LEP

• email: This e-mail address is being protected from spambots. You need JavaScript enabled to view it This e-mail address is being protected from spambots. You need JavaScript enabled to view it
• tel: +44 (0)1243 777144 - M: +44 (0)751 533 2909