The Minister joined Steve Allen, vice-chair of Coast to Capital, to sign the Growth Deal. Over the lifetime of its Deal (2015-2021) the Local Enterprise Partnership estimates that up to 21,000 new jobs could be created, 9,000 new homes built, and that it has the potential to generate £390m public and private investment.
Business Minister Matthew Hancock said: "Bringing thousands of jobs, homes and new investment to the area, this Growth Deal will bring security for local families and help Brighton move towards a brighter future.
"Working in tandem with the University for Brighton this new investment will help students secure meaningful work experience, help small businesses to get digitally savvy and improve local infrastructure to ease traffic."
Tim Wates, chairman of Coast to Capital LEP said: "This Growth Deal is a substantial boost for the Coast to Capital economy and will benefit everyone in our region. Importantly, this investment will help us move towards delivering the ambition set out in our Strategic Economic Plan, creating sustainable growth that benefits all who live, work and study here. We are now working closely with partners to deliver a pipeline of exciting projects which will help unlock the region's long-term growth, boosting job creation and international trade."
Martin Fausset, Managing Director of Ricardo Technical Consulting said: "We are pleased to host the Growth Deal signing which will benefit many businesses and communities in the coast to capital area. We are particularly pleased that the deal has funded continued development of our collaboration with Brighton university in creating a centre of excellence that will deliver leading automotive and environmental engineering training and research programs and also in the Adur flood defence schemes."
The Coast to Capital Growth Deal will bring together local, national and private funding as well as new freedoms and flexibilities. Projects funded by the Growth Deal include:
- Advanced Engineering Centre at Shoreham in partnership with Ricardo and the University of Brighton
- Improvements to the A2300 Burgess Hill Link Road relieving congestion and unlocking up to 3,000 new homes and 5,000 jobs.
- Gatwick Airport - Secures the redevelopment of the railway station at Gatwick Airport a strategic local, national and international transport hub.
- A new Engineering and Digital Technology Park at the University of Chichester site in Bognor, providing cutting edge skills to 500 students per year.
- Smaller but locally significant redevelopment projects in Oxted, Caterham, Leatherhead and Epsom.
- Shoreham and Newhaven Flood Defence Scheme
- Redevelopment of Circus and Edward Street Quarter in Brighton
- A29 re-alignment in Bognor Regis
- Growth is Digital Programme to rolling out superfast and ultrafast broadband and support for SMEs to access the digital economy
An expansion of £35.8 million of Government funding was announced on 29 January, on top of £202.4 million when the Growth Deal was originally announced in July.
Growth Deals are a £12 billion long-term programme to revitalise local economies. The deals are the latest and greatest example of the British economy being rebuilt from the bottom up, and sharing the benefits of the recovery around the country. Local businesses and council leaders have been invited to open discussions immediately on the next set of projects to be funded, building on the momentum that has been established.
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