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<p>The Local Growth Fund will be awarded to Local Enterprise Partnerships (LEPs) on
a competitive basis, on the strength of the Strategic Economic Plans they submitted
to Government at the end of March. It is for LEPs and other local partners to put
forward the proposals that, based on their local knowledge, they consider will have
the greatest impact on economic growth. Discussions between Government and LEPs are
continuing, with the aim of announcing Growth Deals in the summer.</p><p> </p><p>For
the 2014-2020 EU funding period the Government has asked Local Enterprise Partnerships
to work with local partners to determine the investment priorities in their areas.
Support to strengthen research, technological development and innovation will be a
key objective for the European Regional Development Fund. The next stage is for local
partners to work together to help develop a pipeline of projects that will meet the
local investment priorities. BIS will advise the national stakeholder group which
oversees the European Regional Development Fund and European Social Fund on whether
these investments are meeting local, national and EU innovation objectives.</p>
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