Southampton: Solent LEP seeks views on how £37m EU funding should be spent in Solent

The Solent Local Enterprise Partnership (LEP) is inviting local organisations to help shape the strategy to deliver almost £37 million of European Union funds in the region. 

Local companies and organisations across the public and voluntary sectors are invited to a consultation event at the Ageas Bowl in Hedge End to say how they think the European money should be spent.

The Solent LEP is consulting widely to develop a strategy to make the most of the available funds. The money from the EU Structural and Investment Fund is designed to drive growth in the region between 2014 and 2020.

The EU funding is just one of the pots of public money the Solent LEP will be delivering in the region. The LEP is currently distributing funding through Bridging the Gap – a grant funding programme for Start-Ups and Small Businesses – and the Solent Growing Places Fund – a major infrastructure fund offering loans, forward funding and equity investment into projects that deliver jobs and homes. The LEP will also be responsible for securing a slice of the £2 billion Single Local Growth Fund and it is expected that the EU funding strategy will form the basis of a multi-year strategic investment plan to access this funding.

Doug Morrison, Solent LEP chairman, said: “It is vital that we secure as much input as possible from local stakeholders across the Solent to develop an investment strategy which will be effective in stimulating local growth. This is a unique opportunity to influence close to £37m of EU spending and the wider single local growth fund. I strongly urge businesses in particular to come along and help shape our investment strategy.”

The free event, which takes place at the Ageas Bowl on July 22 between 9am and 2pm, will feature keynote speakers from the Solent LEP and central Government.