The West of England Local Enterprise Partnership received the congratulations of Danny Alexander, Chief Secretary to the Treasury, as he announced the Bristol City Deal – an agreement which will benefit the whole of the West of England.
Mr Alexander praised the great co-ordination between the four local authorities and the business community and said the Government believed the area had great potential for further growth.
“The Government is committed to empowering city regions and the West of England is a wonderful example where people are thinking about the area as a whole. The intention is to give you the tools and let you get on with the job,” he said.
Michael Bothamley, President of Bristol Chamber of Commerce and Initiative and an LEP Sector Chair said: "This £1bn deal is fantastic news for the Bristol City Region, provides a huge boost for business and our wider community and will help stimulate investor confidence in this area.
"Investment on this scale into our local rail infrastructure, to boost skills and help create the space for new jobs are things business has been asking for and are what this deal is all about. It's proof that government is backing what we have all been saying - that this city region will deliver substantial new private sector job growth.
"Very significantly, it provides the financial incentive for our local authorities to further support economic growth and job creation. It's also another success for close partnership working between business and local government through our Local Enterprise Partnership."
Colin Skellett, Chairman of the West of England LEP thanked the Chief Secretary for continuing to invest in what was already a successful area.
“It is particularly appropriate that we are meeting today in Venturers’ Hall, the site of the historic centre for entrepreneurial activity in the City. Today we are beginning a new chapter for commerce which we are confident will bring future prosperity for the whole community,” said Mr Skellett.