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Business News in South Ribble

City Deal to Generate Growth

May 22, 2014

A new City Deal has been agreed to accelerate local economic growth.

Building on the success of the first wave of city deals agreed last year, the Preston, South Ribble and Lancashire City Deal will drive forward local growth by encouraging areas to make the most of their economic assets.
Over a 10-year period, the deal is expected to generate more than 20,000 new private sector jobs, including 5,000 in the Lancashire Enterprise Zone and 17,420 new homes, whilst creating £1billion in economic growth.
The £434m scheme, led by South Ribble Borough Council, Preston City Council, Lancashire County Council and the Lancashire Enterprise Partnership, will make the area one of the most important economic centres outside of London and will act as a catalyst for growth – attracting an estimated £2.3bn of commercial investment.
This will open up new investment opportunities for businesses and provide new markets for goods and services through the expanding households.

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