Council to submit investment plan to Government

North East Lincolnshire Council’s Cabinet have approved an Investment Plan to be submitted to the UK Shared Prosperity Fund (UKSPF).

The UKSPF is a mixed revenue and capital allocation aimed at building pride in place and increasing life chances across the UK and replaces European and other funding streams which end in 2023.

The UKSPF is allocated to local authorities to replace the “European Structural Funds” programmes, ERDF and ESIF which this area has previously benefited from.

North East Lincolnshire has been allocated £6,244,819 in the UKSPF, of which £962,714 is ringfenced adult numeracy skills in a scheme called “Multiply”, the investment plan for which was approved at June’s Cabinet.

The remainder of the UKSPF allocation will be split between the three core areas, as defined by Government: Communities & Place, Supporting Business and People & Skills, and the Investment Plan will outline the interventions which best meet the needs of the area. These interventions cover:

Community and Place

• Strengthening our social fabric and fostering a sense of local pride and belonging.
• To build resilient and safe neighbourhoods.

Supporting local business

• Creating jobs and boosting community cohesion by supporting local businesses.
• Promoting networking and collaboration and stimulating innovation and growth.
• Targeted support to help businesses grow – for example, innovation, productivity, energy efficiency, low carbon and exporting.

People and skills (available in year 3 of the scheme)

• Boosting core skills and support adults to progress in work.
• Supporting disadvantaged people to access the skills they need.
• Funding local skills needs and supplementing local adult skills provision.
• Reducing levels of economic inactivity and supporting those furthest from the local labour market.

The Investment Plan will be submitted to Government in the next few weeks.  Once submitted, there will be a series of consultations to gather ideas as potential activities are developed under each of the priority areas, and an open call for projects once Government have approved the plan later this year. For more information and to get involved, email enquiries@InvestNEL.co.uk

Article from NELC.