Liverpool’s £250m investment fund opens for bids
Private developers can now apply for funding towards projects in Liverpool City Region under a new Single Investment Fund established by the combined authority through the devolution deal with government.
The SIF combines various pots of money from local and national government. The eligible business areas covered by the SIF are:
- Business growth and sector development
- Research, development and innovation
- Transport and other infrastructure
- Regeneration, development and culture
The SIF has £257m to spend over the next five years. The application process for phase one of funding, schemes which can start spending within 12 months and completes within three years, is now open. The closing date for submissions is Friday 9 December 2016.
Finance will be available in the form of loan, grant, equity and guarantee.
The projects with the best chance of success will be those that match the Liverpool City Region Growth Strategy objectives. These focus on people, place and productivity. Specific place-related objectives in the growth strategy include:
- Become the global logistics hub for Northern UK and Ireland
- Link Liverpool Lime Street to HS2 to create the start of an east-west Northern Powerhouse Rail link
- Develop an integrated multi-modal transport system
- Deliver a Green Bus Network
- Become the largest marine energy hub in Western Europe
- Construct a tidal power scheme
- Develop a Hydrogen Gas Grid
- Provide comprehensive ultra-fast broadband infrastructure
- Explore the development of freely available public WiFi networks
- Identify and maximise new spaces and places of potential economic opportunity
- Capitalise on existing spaces of economic opportunity, particularly Mersey Waters Enterprise Zone
- Make the International Festival for Business a permanent fixture in the city region’s calendar
- Upgrade and rebalance our housing offer
Further information about the fund, the prospectus, the levels of funding, who is available to apply and the application process can be found on www.liverpoolcityregion-ca.gov.uk