Menu

Lancashire County Council respond over government Investment Zone plans

Posted on - 27th September, 2022 - 12:00pm | Author - | Posted in - Business, Politics, Preston Council, Preston News, Redevelopment
County Hall in Fishergate Pic: Tony Worrall
County Hall in Fishergate Pic: Tony Worrall

Lancashire has been confirmed as one of the areas being considered as a possible location for a new Investment Zone

On Friday 23 September, the Chancellor of the Exchequer, the Rt Hon Kwasi Kwarteng, outlined his financial plans in a ‘mini budget’.

One of his flagship policies is the introduction of Investment Zones to grow the economy, and he has said that the Government is in discussion with 38 local and mayoral combined authority areas in England.

Cllr Phillippa Williamson and Cllr Aidy Riggott on a construction site Pic: Lancashire County Council
Cllr Phillippa Williamson and Cllr Aidy Riggott on a construction site Pic: Lancashire County Council

Read more: Preston woman releases inspiring collection of children’s books on disabilities and differences

In response to the announcement, County Councillor Phillippa Williamson, leader of Lancashire County Council, and Chair of Lancashire Leaders, said:

“We are delighted that Lancashire has been included in the initial wave of Investment Zone discussions given the opportunities that it will bring to attract further investment, unlock development and economic activity boosting jobs and growth to our county through a targeted approach.

“There is massive potential across Lancashire and we are ready to move at pace using our existing development pipeline as well as new, ambitious opportunities including those aligned to the development of our historic new ‘Lancashire 2050’ strategy.

“In all, our current pipeline of major development and infrastructure projects has an estimated value of more than £20 billion and we are at an advanced stage of developing further strategic investment opportunities with a wide range of national and regional partners.

Read more: Lancashire County Council confirm council tax increase and budget plans for 2022

“Some of these are reflected in the recent £320m Levelling Up Fund bids made for the county to deliver a diverse range of priorities and attract further investment.

“This included the County Council setting aside a dedicated £5million Levelling Up Investment Fund in support of our district partners and wider council ambitions. 

“With our partners, Lancashire continues to direct investment to unlock growth, jobs and opportunities from Eden Project North in Morecambe to Chorley in the south and from Blackpool and West Lancashire through central Lancashire and our strategic growth corridors including Hyndburn, Burnley and Pendle to the east, whilst cementing Lancashire’s strategic central place in the North West Cyber Corridor.

Read more: Preston and South Ribble plans within £50m ‘Levelling Up’ bid

“Lancashire benefits from four Enterprise Zone locations including Samlesbury Enterprise Zone, which under the County Council’s leadership, is rapidly developing as a high-quality base and home to world-class businesses in cutting-edge innovation, technology and advanced manufacturing.

“Samlesbury has also been identified as the preferred location for the National Cyber Force, which gives Lancashire a once in a generation opportunity to become the most data-aware and data-mature economy in the UK which will bring huge opportunities to our people and businesses.

“We are very much looking forward to working with Government on the development of Investment Zones and to the benefit it will bring Lancashire.”

For more information about the announcement visit the GOV.UK website.

See what’s happening near you by entering your postcode below or visit InYourArea

Read moreSee the latest Preston news and headlines

Share
Preston in pictures Sentinel Shunter Ribble Rail Sentinel 33027 Jim MartinThe Old Taxi Rank, Preston Bus StationPreston Market at night.Preston Bus StationPreston Bus StationPreston - former Martins Bank, 181 Friargate 241019 2 View more
Advertisement
Subscribe to the newsletter

Sign up below to receive Blog Preston's email newsletter. It wings its way into inboxes every Sunday and Wednesday rounding up our top stories and more.

Advertisement
News by location

Find news by location, select an area of your choice to be kept up to date with the latest goings on.

The Preston Guide

Discover local businesses and services near you.

Advertisement
Categories

Find news by category, select an category of your choice to be kept up to date with the latest goings on.

Blog Preston email updates

Receive our digest of the biggest and best stories every Sunday to your email inbox

We respect your privacy and you can unsubscribe at any time from our emails