£7m boost for area's economic prosperity (From Romsey Advertiser)

£7m boost for area's economic prosperity

4:00pm Monday 2nd April 2012 in Hampshire Business

THE body set up to drive economic prosperity in a area from the New Forest to north Hampshire been given a £7m boost to build new roads, houses, business parks or improve broadband internet.

The Government cash is being given to local enterprise partnerships (LEPs) as part of a drive to unlock economic growth and stop Britain being dragged back into recession.

Enterprise M3, which covers the New Forest, Test Valley, Winchester and the M3 corridor, is getting £7m from a new £270m injection into the Growing Places Fund from Government department underspend. Enterprise M3 received £14.7m from the initial £500m fund last year.

The LEP will be inviting bids for infrastructure projects to get a slice of the £22m fund from the middle of next month. The bids, which will also be expected to deliver jobs, will be judged in June.

As previously reported The Solent LEP, covering the south Hampshire region, has received a total of £18.1m from the fund.

A £5.5m grant has already been confirmed to widen Platform Road, Southampton, into a dual carriageway to ease congestion. ABP and Southampton City Council are also contributing to the scheme, dubbed “Platform to Prosperity”.