Local authorities in east Lancashire have agreed a ten-year funding strategy worth up to £20m a year with the North West Development Agency.
The priorities for spending will be delivering new housing, driving the aerospace and advanced manufacturing sector, expanding higher education, and improving digital and physical connectivity.
The funding framework is the first of its kind in the region to be agreed by the NWDA with local authorities. The strategy will deliver aspects of the Pennine Lancashire Multi Area Agreement, which was signed by ministers earlier this year.
The NWDA also agreed to invest £200,000 towards setting up the Pennine Lancashire Development Company, which will deliver some of the projects.
Among the key sites named in the investment plan are:
- Whitebirk Strategic Investment Site
- Blackburn Knowledge Zone
- Burnley Bridge Business Park
- Burnley Education and Enterprise Zone
- Adrenalin Gateway, Rossendale