Funding boost allows SW projects to ‘go live’

ADOZEN ‘shovel-ready’ South West development projects are ready to ‘go live’, after receiving £21 million of funding.

The Heart of the South West Local Enterprise Partnership (HotSW LEP) has allocated the cash from the Government’s Getting Building Fund (GBF) to projects in Devon, Somerset, Plymouth and Torbay.

The projects have all been contacted and another 12, that have secured £14 million from the fund between them, are expected to be contracted and go live in the Spring.

The HotSW LEP secured a total allocation of £35.4 million in the summer of 2020, the highest allocation in the South West, from the Government’s GBF campaign, designed to restart the economy after the Covid-19 pandemic.

So-called shovel-ready projects were chosen to receive funding, having proven a solid business case, and shown that they would create jobs and contribute to a green recovery.

Karl Tucker, chair of the HotSW LEP, said: “This is great news for our area, and we can’t wait to see the work getting underway in the coming weeks. Each of these projects has a role to play in contributing to the economic recovery and longer-term growth in our area.

“The funding we have been able to award to these projects through our allocation of the Getting Building Fund will help to get projects underway or accelerate their progress, creating jobs and economic stimulus. We also recognise there are other important projects that still need funding and we will continue to work closely with Government to secure further funding in the future so that we can continue to provide support where it is most needed in our area’s recovery.”

The selection process for the projects considered areas hardest hit by Covid-19.