The first tranche of Growth Deals were announced on 7 July 2014. The second tranche were announced on 29 January 2015.
The Government allocated £35.3m to Enterprise M3 for 2015/16. A number of projects were submitted for assessment and 19 projects were selected to start in 2015/16 covering enterprise, housing, skills and transport and a further 11 smaller sustainable transport projects. The progress of the Local Growth Fund 2015/16 projects can be found in the resources section on this page. All projects put forward for funding undergo an assessment and Enterprise M3 has a process for developing, prioritising, appraising and approving projects which is included in the Assurance Framework, click here for further details.
Evaluation and Monitoring
The aim of the Local Growth Deal is to maximise the economic and social impacts of the investments and interventions for the benefit of the businesses and communities of the Enterprise M3 area. Understanding and reporting the changes brought about and the difference made by the investments has great value in steering future interventions and will play an important role in demonstrating the value added by Enterprises M3. All projects will undergo monitoring and evaluation which will need to demonstate the progress that Enterprise M3 has made in achieving its aims and objectives, and the value of the interventions undertaken, particularly in terms of economic outcomes, incuding increasing productivity, and creating jobs, housing and growth. Enterprise M3 has developed an Evaluation Strategy which sets out the overall approach to processes and impact evaluation.