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Funding

Attracting funding to the region

Since devolution in 2017, the West of England Combined Authority and the West of England Mayor have access to more powers and funding.

The devolution deal brought £900 million of investment funding to the region. Due to the work of the Combined Authority, over £1.15 billion in new funding has been secured for the West of England region since then. This means that we can take action to address our most important challenges.

Funding and other projects

The West of England Combined Authority Committee has approved a number of projects within the £350m Investment Fund allocation up to 2023. These projects are currently in development or delivery and when they are completed, they are expected to deliver significant benefits to the region. Below is an estimate of the impact of these projects, including where matched funding has been leveraged. It should be noted that these measures do not capture the full value of the projects, which will provide a range of specific benefits, some of which are hard to estimate precisely at this stage. 

Economic growth

  • £990m of economic output (gross value added) 
  • Over 5,000 new jobs 

Business and skills

  • Over 12,500 learners gaining new qualifications or skills 
  • 2,350 people supported to gain increased earnings, and many more moving into work 
  • Over 8,800 business receiving enterprise support 
  • 100 new research and development projects, and 60 new products or services 
  • brought to market 
  • 450 small businesses supported with innovation activity 

Infrastructure

  • 39,600m2 of commercial floorspace enabled 
  • 8,150 homes enabled on specific sites 
  • Over 1 million new bus journeys per year, and significant improvements locally 
  • Over 1.7 million new rail journeys per year 
  • Fivenew railway stations opened 
  • Two new park and ride sites developed 
  • Contribution to spatial planning and delivery, and revitalisation of a number of high 
  • Streets 

In addition to the direct jobs and economic output estimated above, the Investment Fund programme will contribute to West of England Combined Authority’s objective of clean and inclusive growth. Projects will encourage residents to take public transport rather than use private cars, and to improve rates of walking and cycling, reducing carbon emissions and improving air quality. The projects will support the development of housing (including affordable housing) and the Enterprise Zones and Areas across the region. They will help people across the region to gain skills and access jobs, particularly those on low incomes and in more deprived areas. Our projects will improve the innovation and productivity of businesses across the region, encouraging investment and equipping them to compete and grow successfully. 

Future Bright delegates in a workshop

The Investment Fund is invested in regional priority schemes that support our Local Industrial Strategy and Regional Recovery Plan. Part of the original devolution deal, this brings £30m of new finance per annum to the West of England over a 30-year period.

View details of the current Investment funding programmes available as well as details for the schemes which have been awarded funding.

Pebbles next to Clevedon Pier

The West of England Local Enterprise Partnership (LEP) works to bring funding to the region to support economic growth. These funds build on the strength of the West of England by creating more jobs and a skilled workforce.

View the current LEP’s funding programmes together with details for schemes which have been awarded funding.