City Deal

The Preston, South Ribble and Lancashire City 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 over a 10 year period.

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, provide new markets for goods and services through the expanding households and create new opportunities to live and work in South Ribble.

To find out more about City Deal opportunities, please download our Invest Central Lancashire brochure , follow this link to the Lancashire Enterprise Partnership City Deal website or watch our video.

The Preston, South Ribble and Lancashire City Deal was the first of 20 second wave City Deals to be agreed and was signed in September 2013. The Lancashire Enterprise Partnership, Lancashire County Council, Preston City Council, South Ribble Borough Council and the Homes and Communities Agency are working together to deliver this once in a lifetime opportunity for the area.

Public sector funding is expected to leverage £2.3 billion of commercial investment into housing and employment sites.

The City Deal will also see the launch of a new £100m investment fund, created by Lancashire County Pension Fund.

This means investments managed on behalf of local government pension schemes will be made in commercial projects in the City Deal area, representing a powerful incentive for commercial developers to deliver housing and other wealth-creating schemes.