Two London communities will receive a share government funding to stimulate local enterprise.
Croydon and Barking & Dagenham were two of 10 areas selected by the government’s Local Enterprise Growth Initiative (LEGI) to share a first round of funding worth £126m.
LEGI is a joint programme between the Office of the Deputy Prime Minister (ODPM), the Treasury and the Department for Trade and Industry (DTI), which identifies the country’s most deprived communities and aims to increase entrepreneurial activity in the local population.
The renewal programme also targets funding for supporting the growth of locally owned businesses and initiatives to attract inward investment and franchising opportunities to make use of local labour resources.
“Our aim to build communities and transform lives will be hugely supported by the delivery of our LEGI proposal,” said Rob Whiteman, chief executive of Barking & Dagenham.
“Through partnership we will build an enterprise culture to support individuals and businesses to flourish. LEGI will help equip East London to reap the rewards of the enormous opportunities for business over the next 20 years, from London 2012 and the Thames Gateway. We are really delighted with this news.”
Local authorities across the country were invited to submit proposals setting out how LEGI funding would be used to stimulate enterprise and transform their most deprived areas.
A national advisory panel, which included two senior private sector representatives, recommended that funding be awarded to the 10 announced today, which included Ashfield, Bolsover and Mansfield; Bradford; Coventry; Easington, Derwentside, Wear Valley, Sedgefield; Great Yarmouth; Hastings; St Helens; and South Tyneside.
