Following the successful completion of the first wave of city deals in July 2012 with the “core cities”, the Government committed to work with a further 20 cities and their wider areas to negotiate a second wave of city deals in October 2012.
I can today inform the House that the Government and business and civic leaders in Southend-on-Sea and the South East local enterprise partnership have reached agreement on a city deal.
The Southend-on-Sea city deal capitalises on opportunities to increase the rates of entrepreneurship and innovation locally, to realise the full potential of this major centre within the South East local enterprise partnership area.
The city deal will deliver incubator space, a one-stop-shop for direct business support and bespoke business support programmes. This will drive jobs growth and increase business start-ups and survival rates.
Business and civic leaders in Southend-on-Sea anticipate that the deal will create or safeguard more than 555 jobs over the next three years and provide support to 1,350 businesses across south Essex. And as a result of the deal there will be a £1.3 million redevelopment of central library in Victoria avenue.