A bid for funds to boost Cumbria’s economic growth could also lead to thousands of new jobs.

Cumbria Local Enterprise Partnership (LEP), the county’s strategic economic body, has submitted its bid proposals for Growth Deal 3 funding from central government.

The submission to accelerate Cumbria’s economic growth could help create over 5,500 jobs, lever in millions of pounds of additional investment, develop over 600,000 square metres of business space and fund infrastructure work for new homes.

Growth Deal 3 is the government’s latest local growth funding round for projects aligned with regional strategic economic plans. Cumbria LEP’s bid is for approximately £165m of additional investment. Priority projects include major investments in nuclear technology, agriculture, tourism, skills, site and transport infrastructure, improving connectivity and flood resilience.

Graham Haywood, director of Cumbria LEP, says: “We have worked closely with economic development partners across the county to finalise this ambitious bid and submit it on time.

“Our aim is to create thousands of new jobs and boost Cumbria's economy by £1.3 billion by 2024.

“We have clearly set out what we need to help accelerate the county’s economic growth as we host some of the UK economy’s most significant assets which will provide vital resources to help meet the nation’s future needs. The county has a unique and compelling offer to businesses and investors in the global economy too.

“The funding we have requested is a step up from earlier Growth Deal rounds, but we are making our case for this level of commitment and the resulting economic benefits.”

Cumbria’s Growth Deal 3 submission focuses primarily on the following key projects:

· Carlisle Station Gateway and the Citadels - Mixed use regeneration scheme including hotel, retail, residential and business workspace.

· Flood Resilience Programme - To improve business flood resilience and restore investment confidence.

· Growing our Potential (including broadband) - Grants and loans to boost business productivity and innovation, plus further roll out of broadband and digital technology across Cumbria.

· Lillyhall North - Measures to enable development of employment site and supply chain investment.

· Optimising Connectivity - Integrated, sustainable transport improvements.

· Skills Capital Programme – To enable delivery of Cumbria Skills Investment Plan and improvements to post 16 education provision.

· Whitehaven Town Centre - Commercial development of business workspace and upgrades to coastal railway and A595.

· Agri-sector Programme - Investment in business support activities to increase rural productivity and long term sustainability.

· Cross-a-Moor, Ulverston – Residential development and upgraded A590 junction.

· North Gateway Workington Development – Transport improvements to support major energy sector and development of new business workspace.

· Nuclear Technology Innovation Gateway - New academic research centre, laboratories and offices for National Nuclear Laboratory.

· Tourism Growth Programme - Investment and business support to boost Cumbria’s appeal as a destination and increase visitor numbers.

Mr Haywood added: “The next decade brings unprecedented national and local opportunities that we must seize collaboratively. We are looking forward to working with central government to ensure that we obtain funding levels commensurate with Cumbria’s bold economic development plans.”

The government is expected to announce its allocations for Growth Deal 3 funding bids later in 2016. For further information about Cumbria Local Enterprise Partnership’s Growth Deal 3 bid submission, visit www.cumbrialep.co.uk