Norfolk and Suffolk are to benefit from extra funding which has been awarded by the Government to New Anglia Local Enterprise Partnership.
The £69.06m will be spent in the region between now and 2021 and comes on top of the £221.8m already awarded to New Anglia LEP in previous growth deals.
These have helped fund projects which include the Bury St Edmunds Eastern Relief Road, the Engineering and Technology Centre at West Suffolk College and broadband programmes across both counties.
The total funding could see 54,750 jobs created, 6,800 home built and £628m of extra investment.
The latest package announced will go towards a number of projects aimed to boost skills, create more business and jobs and help small to medium enterprises in the region grow and flourish.
Some £12m will establish an Enterprise Zone Accelerator Fund to deliver plans to create new jobs in the Space to Innovate Enterprise Zone at sites across Norfolk and Suffolk. It will also tap into expertise in food and health research, the region’s all-energy coastline and cutting edge digital and ICT sectors. The funding will eccelerate development by providing investment in new buildings and infrastructure.
Some £15m will set up an Innovation and Productivity Fund for capital investment to create smarter more agile businesses and deliver more knowledge-intensive jobs.
There is also £22m for New Anglia’s Capital Growth Programme which will invest in projects to unlock additional growth around connectivity and investment in skills.
Mark Pendlington, Neew Anglia LEP chairman, said: “This award recognises what we have achieved so far in creating new jobs, building new businesses and winning new investment. We have a proven track record for securing Government investment. We have already unlocked over £208m of private sector investment with much more to come. The East really is one of the best places to live, work and learn.”