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Launch of Essex Renewal Fund to bring £100m boost to local economy

Business / Mon 11th Apr 2022 pm30 01:16pm

A NEW fund which will invest £100 million to set the Essex economy up for the future, and help create 1,500 jobs, has been announced by Essex County Council (ECC).  

The Essex Renewal Fund (ERF) has a 20-year growth framework and will make long-term investments to support future economic growth in the county and deliver a commercial return to ECC.

It will target land and property assets in Essex and focus on ECC’s identified levelling up priority areas, while promoting the county’s potential and supporting its residents, town centres and businesses. 

Across a balanced portfolio, the ERF will target ECC’s identified key growth sectors, supporting the County Council’s ambitions on future and green growth, net zero, providing good quality jobs and levelling up the economy. 

Cllr Lesley Wagland, ECC Cabinet Member for Economic Renewal, Infrastructure and Planning, said: “Today marks a momentous day in the forward planning of Essex’s economy and ECC’s role in driving growth. The Economic Renewal Fund will benefit our areas of improvement, providing new skills opportunities, investment into our high streets and supporting our residents and businesses. 

“This is a very exciting time for Essex, and we will now implement our plans for the fund to get under way.”

Over the next 20 years, the ERF will support business growth and employment opportunities, with the expectation projects commit to net zero carbon reductions and improve quality of life for Essex residents.

More information on ECC’s plans for economic growth across Essex is available in the County Council’s Everyone’s Essex strategy

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1 Comment for Launch of Essex Renewal Fund to bring £100m boost to local economy:

peter henegan
2022-04-11 21:51:37

I am always puzzled by plans to create jobs at a time of full employment. How many times do we read about staff shortages-will this plan just exacerbate the proble

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