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<p>Innovation is a key contributor to economic growth and is vital to build future
green growth. Innovate UK, the UK’s innovation agency, supports business-led innovation
in a range of areas which contribute to a low-carbon future. It has funded £18.5m
for Low Carbon Technology projects in the South West of England since 2010.</p><p>
</p><p> </p><p> </p><p>All SW Local Enterprise Partnerships (LEPs) have recognised
the potential from investment in low carbon sectors in their Strategic Economic Plans.
There are a number of key projects supporting investment in low carbon included in
LEP Growth Deals secured in July 2014 and enhanced in January this year. The ‘Heart
of the SW LEP Growth Deal’ includes:</p><p> </p><p> </p><p> </p><ul><li>Projects supporting
Hinkley Point C nuclear power station – this major development presents enormous opportunities
to local people who can train to work there, and to companies in the supply chain.</li><li>Investment
in innovation centres and science parks in Exeter, Plymouth and Bridgwater will help
start and grow dynamic businesses in sectors likely to see the biggest growth in the
next ten years, areas like environmental futures, marine renewables and nuclear energy.</li></ul><p>
</p><p> </p><p> </p><p>Local specific projects include:</p><p> </p><p> </p><p> </p><p>·
Bridgwater College supporting construction skills for Hinkley - £5m skills capital
investment for 15/16.</p><p> </p><p>· Hinkley Point Training Agency – to train local
people to take advantage of job opportunities at the new nuclear power station - £6.5m,
including £3m in 2015/16.</p><p> </p><p>· Low Carbon Innovation & Collaboration
Centre – a new building to support Hinkley supply chain and innovation - £3.9m, including
£2m in 2015/16.</p><p> </p><p>· Marine Industries Production Campus at South Yard
in Plymouth – part of the Plymouth & Peninsula City Deal project to transfer land
from the MoD and establish a marine sector campus with strong emphasis on marine renewables
opportunities - £1.5m.</p><p> </p><p> </p><p> </p>
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