Millions of pounds of investment is heading to Huddersfield and Calderdale.
Both areas will benefit from a £72.8million Government deal for the Leeds City Region which will be announced today.
And a potential £500m more could be on its way to the region in coming years as part of the government’s Growth Deal.
Kirklees and Calderdale will benefit as key players on the Region’s board.
A key feature of the deal is the West Yorkshire Plus Transport Fund which is investigating proposals from a new M62 junction near Rastrick to Cooper Bridge improvements.
For Halifax it will help towards the clearance of Northgate House for a new commercial development and for the region overall projects which get underway in 2015/16 could help to create up to 9,000 jobs, 1,000 news houses and generate up to £370 million in public and private investment.
Roger Marsh is chair of the LEP, a board that brings together the public and private sectors and includes Huddersfield University vice-chancellor Bob Cryan as well as the Kirklees and Calderdale council leaders, Clr David Sheard and Clr Tim Swift.
Mr Marsh said: “This is a game-changing moment for the Leeds City Region.
“The scale of our settlement, combined with the additional freedoms and flexibilities we have secured through this historic Deal, demonstrate the government’s faith in this powerhouse economy, as well as in the strength of our partnership, our governance arrangements and our readiness to deliver.
“Have we got everything we asked for? No. Have we got enough to begin realising our ambitions for transformational growth? Absolutely. We have shown we can deliver – now we need to deliver at scale, maximising the full range of funding and investment options and working with government and our partners to implement our Strategic Economic Plan in its entirety.“
The key features of the deal are: the £1bn West Yorkshire Plus Transport Fund run by the Combined Authority of local authorities ruling on £1bn road and railway plans; expanding a skilled workforce with investment in the Region’s further education colleges overseen by the LEP; and business grants for growth to help small and medium enterprises access finance to grow.
The Leeds City Region Growth Deal is part of a national £12 billion long-term programme to revitalise local economies.
The Prime Minister David Cameron said: “Growth Deals are a crucial part of our long-term plan to secure Britain’s future.
“For too long our economy has been too London-focused and too centralised. Growth Deals will help change all that. They are about firing up our great towns and cities, boosting local economies and driving growth across the country.”
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