Lancashire to establish its own levelling up fund
The county council plans to set up a £5m pot to “enable, accelerate, unlock and assist” in the delivery of its multi-billion-pound pipeline of major development projects.
Lancashire County Council’s cabinet is to meet on Thursday to approve the creation of the Lancashire Levelling Up Investment Fund.
It is hoped the fund will help to unlock and facilitate the delivery of key sites by providing cash for land acquisitions, business case development and the creation of masterplans, according to the county council.
The pot will support both county council-led schemes and projects being delivered in partnership with the public and private sectors.
Lancashire County Council’s pipeline features £10bn of transport and digital infrastructure projects, £3.5bn of town and city centre regeneration plans, and four enterprise zones, according to the county council.
Another £2bn of strategic development projects and the £5bn National Cyber Force headquarters in Samlesbury could also benefit from the formation of the fund.