funding - Exeter and East Devon Growth Point

Please note this page sets out funding from the early days of the Growth Point and does not reflect current funding arrangements (June 2017)

The funding package for the growth area is a combination of private and public sector support. Over £50 million worth of public sector finance has been made available to the Growth Point, and over £520 million of investment has come forward from the private sector. Once all the developments are complete we anticipate that £100million will be added to the local GVA per annum. 

The public sector support has come from a number of different funding streams. Each of the funding partners which include, Devon County Council, Exeter City Council, East Devon District Council, the Homes and Communities Agency (HCA) and the South West Regional Development Agency (RDA), have made considerable contributions to individual projects.

One of the funds which has been made available is the Growth Fund, a fund allocated specifically to Growth Points.  Exeter and East Devon's allocation of Growth Funding is now over £8 million; this will be split between specific projects and background studies to enable development to move forward. 

Additional support is also provided by all the funding partners for the Growth Point Delivery Team.  The team is part funded by the Growth Fund, the South West Regional Development Agency's (RDA) Delivery Team Capacity Grant and the local authority partners.

The Delivery Team is being hosted by East Devon District Council, with key officers from each of the partner authorities working together on essential studies and to progress specific projects. 

In the future we will be exploring more opportunities for shared working and pooling of resources in order to maximize the efficiency of the team to make best use of available funding.

The £50 million public sector funding has been made available to the Growth Point following a number of successful funding bids.  Additional public sector funding has been invested into specific projects and individual partners have been successful in other funding bids.