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£200 million project launched
12:27pm Tuesday 8th July 2014 in News
A TREASURY minister was at Gatwick today to announce a multimillion-pound growth package for the region.
The six-year deal will see more than £200 million poured into creating jobs, homes, roads and flood defences – plus supporting new businesses.
With additional public and private funds the overall investment amounts to £443 million.
David Gauke MP, Exchequer Secretary to the Treasury, joined Coast to Capital LEP chairman Tim Wates, chief executive Ron Crank and Gatwick chief executive Stewart Wingate (all pictured above) to announce the deal.
A new ASEAN Gateway at the airport will boost trade with Southeast Asian nations, with £3.7 million investment, digital growth will be supported with £3.4 million and Preston Barracks, a research laboratory for commercial research and high growth businesses, will get £7.7 million.
Meanwhile flood defences, housing and workspace will get an £11 million boost in Newhaven and Shoreham.
Mr Crank said: “Investment in the region’s business infrastructure is vital for its successful future performance and there is much to do.
“We must ensure this first year programme is delivered and we must prepare the investments and projects for the remainder of the six-year programme.
“It is clear that, as successful as our region already is, we need significant investment in our transport infrastructure, in business support and in skills, if we and the UK as a whole, is going to compete internationally.”