Growth Deal funding: open call for capital investment projects

Stoke on Trent and Staffordshire Local Enterprise Partnership (SSLEP) would like to invite organisations across the SSLEP area to submit either Business Cases or Expressions of Interest (EOI) for current and future funding opportunities able to drive economic growth.

£2.9m is immediately available for projects that are fully worked up and able to submit a robust business case.

Overall, SSLEP has the opportunity to potentially reinvest up to £12.9m of its Growth Deal funds and is seeking Expressions of Interest which outline potential investment opportunities.

SSLEP wishes to have a refreshed pipeline of capital projects that can be worked into full business cases should further funding opportunities be announced.

Please note that for ALL Growth Deal investment funding requests, both Business Cases and EOIs must be defrayed by March 2021 even for projects that complete beyond that date.

The call is seeking to identify infrastructure projects in the Stoke on Trent and Staffordshire LEP area. We strongly recommend that you look at the LEP website and the Strategic Economic Plan to see the type of projects that have already been funded. 

We welcome detailed proposals for “shovel ready” schemes up to £2.9m and expressions of interest for larger schemes up to £12.9m from public, private or third sector organisations that have a project with the potential to deliver growth in the Stoke on Trent and Staffordshire LEP area.

In particular, SSLEP are seeking proposals that are able to deliver jobs and / or housing units

The call is for capital projects with a minimum grant funding request of £100,000.

If you wish to discuss potential projects, please contact the LEP office: contactus@stokestaffslep.org.uk

Please note there is no guarantee that projects will be funded.

Points to bear in mind if considering whether to submit a business case or expression of interest are:

• Submissions should be for capital projects
• All Growth Deal funding must be defrayed by March 2021
• If the proposed scheme is ready for delivery (“shovel ready”) and the requested LEP investment does not exceed £2.9m, please complete the Business Case template
• For EOI submissions you will need to be in a position to develop a full Business Case if invited to do so
• Projects will need to satisfy the business case requirements set out in our assurance framework and demonstrate clear leverage, and outcomes that demonstrate good value for money
• When completing the business case template please provide a clear description and a rationale for the proposed project, particularly regarding:
  • what the need for LEP funding is and how investment will address issues identified in the SEP and contribute to the growth of the SSLEP economy
  • evidence to show why the market/private developers/operators cannot progress the scheme without the LEP’s help
  • include data to demonstrate there is demand / need for the project
  • the expected and realistic milestones for planning, clearance, construction and operation
  • the LEP will not support any projects that are looking for 100% funding from the Growth Deal fund therefore please provide broad costings, funding mix and project cash flow
• Appraisal and prioritisation will be based around four core themes:
  • Ambition and rationale (strategic fit with our Strategic Economic Plan)
  • Value for money
  • Deliverability and risk
  • Economic and other benefits.

To enable the LEP to consider all the submissions, please return completed business case or expressions of interest form no later than midnight Friday 19^th October 2018 to: david.nicholls@staffordshire.gov.uk

Appendices

• Business case template for detailed proposals up to £2.9m: Business Case proforma
• Expression of interest for schemes up to £12.9m: Expression of Interest