Local Government Minister John Healey today confirmed that 52 councils in the East of England will share almost £29.5million as a reward for successfully promoting economic growth in their areas.
Councils are able to spend this additional funding from the Local Authority Business Growth Incentives scheme (LABGI) as they see fit according to local priorities. It follows a consultation on provisional allocations announced in April.
The good progress that councils have made in encouraging new business growth means we have been able to confirm payments for the third year of this special three year scheme.
John Healey said:
"I am confirming payments of almost £300million for councils which they can spend as they see fit according to their local priorities. This rewards the work they've done to boost their local economies and aims to encourage councils to play a bigger role in backing business and new jobs in their area.
"Over the last three years this scheme has made a real difference to local communities, so I want to ensure that we continue to provide an incentive for local authorities to promote local business growth."
