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Port will cash in on investment boost from £296m 'City Deal'

By Herald Express  |  Posted: February 06, 2014

POTENTIAL: Gordon Oliver

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MORE details have emerged of how Torbay and the South Hams are to benefit from a government-backed scheme which will pump £296million into the south west economy.

The Plymouth and South West Peninsula City Deal could see over 10,000 new jobs and growth for 25,000 businesses in the region over the next 15 years.

Improvements could be set for Brixham to enhance its marine economy and Noss-on-Dart Marina at Kingswear could also play a vital part.

Among the initiatives in Torbay which the City Deal will support are:

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Brixham: development of proposals to improve marine engineering space by levering private and public sector investment to create new workspace and jobs.

Additional support and advice for exporters, to complement the new Export Network to maximise on local businesses' potential.

Torbay businesses should benefit from the proposed Growth Acceleration and Investment Network hub to improve the co-ordination of business support and provide additional innovation, manufacturing, export advice to businesses in marine sector and advanced manufacturing.

Torbay firms are urged to bid for funds for projects of up to £1million which are ready to go, through the University of Plymouth/Western Morning News growth fund which will reopen.

Skills boost, aiming to help connect young people and employment opportunities. Some five to 15 per cent of the 2,000 young people to benefit across the City Deal area will be in Torbay as well as those in South Hams. The deal is using £3million from central government to help improve employment prospects for young local people.

Torbay mayor Gordon Oliver said: "Torbay and our partners in neighbouring authorities, Plymouth University and the Local Enterprise Partnership can be proud the creativity and vision of the City Deal inspired Whitehall to give renewed confidence in the South West and will enable us to fulfil our potential as a region to be reckoned with."

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