Boosting skills and jobs on the south coast
Following the Autumn Statement, Vince Cable visited Southampton to launch two schemes to improve skills and create sustainable employment.
Regional Growth
Dr Cable was in Southampton to launch two key schemes to improve skills and create sustainable employment, following on from new investment launched in the .
He visited Eastleigh College to announce a new 拢550 million Further Education Capital Investment Fund to help improve college facilities across the country.
That investment will be targeted towards colleges in the greatest need of help to improve facilities, improve efficiency and save money in the long term. Colleges will be able to apply for funding through the Skills Funding Agency.
An extra 拢310 million for the Regional Growth Fund to create and safeguard jobs was also announced in the Autumn Statement. To date, 拢2.4 billion has been conditionally offered to businesses and intermediaries up and down the country 鈥� creating jobs and boosting the local economy.
皇冠体育app south coast has benefited from a number of different Regional Growth Fund projects and programmes. 皇冠体育app Solent LEP has been awarded 拢2m from the Regional Growth Fund to roll out the second phase of the successful Bridging the Gap Funding programme to Southampton and the Isle of Wight.
Other beneficiaries of Regional Growth Fund awards for the area include:
- Southampton City Council has been awarded a further 拢5.3 million Regional Growth Fund in support of the 鈥楶latform for Prosperity鈥� project bringing the total to 拢10.9 million. 皇冠体育app project entails the improvement and upgrade of the road infrastructure outside Eastern Docks and is expected to create or safeguard over 800 jobs.
- Cobra Precision Engineering and Elite Care Homes are two of the first recipients of 拢100,000 of phase one of the Solent LEPs Bridging the Gap award. 皇冠体育app grant will leverage close to 拢600,000 additional private investment and create and safeguard 12 jobs at the two firms.
- 皇冠体育app Solent Future鈥檚 project is a 拢13m Regional Growth Fund money investment from Round 3. Part of the funding will be utilised to ensure a sustainable future for the Advanced Manufacturing skills in the Solent workforce. This will bring together leading businesses, colleges and Universities at a world-class training centre on the Solent Enterprise Zone.
- 皇冠体育app Portsmouth Naval Base Property Trust in Portsmouth secured 拢1.23 million of Regional Growth Fund to support two projects within the Historic Dockyard at Portsmouth. 拢750,000 will be used to develop the Cell Block Enterprise project which will support enterprise skills development and provide access to early stage funding with mentoring managed by the University of Portsmouth. 皇冠体育app project aims to create over 440 jobs in the supply chain.
- 拢475,000 will contribute to the development of the International Boatbuilding Training College (IBTC) which combines heritage conservation with apprenticeships and other training to develop transferrable skills. 皇冠体育app project has also had initial support from the Heritage Lottery Fund which could result in a final grant of 拢3.9 million grant to help support the development of heritage skills for the future. Both projects will have a ten year economic life cycle.