UK Shared Prosperity Fund
The UK Shared Prosperity Fund (UKSPF) is a central pillar of the UK government’s Levelling Up agenda and provides £2.6 billion of funding by March 2025.
The fund will support the UK government’s wider commitment to level up all parts of the UK by delivering on each of the levelling up objectives:
- Boost productivity, pay, jobs and living standards by growing the private sector, especially in those places where they are lagging.
- Spread opportunities and improve public services, especially in those places where they are weakest.
- Restore a sense of community, local pride and belonging, especially in those places where they have been lost.
- Empower local leaders and communities, especially in those places lacking local agency.
County Durham has a grant allocation of £30,830,613 and an additional £2,803,077 to fund Multiply. Funding is available across financial years 2022/23 to 2024/25.
A forward plan is being developed to set out delivery approaches and business process for the fund.
Following agreement by the County Durham Economic Partnership Plus Board, the Forward Plan will be published, which will include timescales for issuing of open calls.
Whether you are a small business or a multi-national market leader, Drum Business Park is the perfect place to locate and run your business.
enquiries@drumbusinesspark.co.uk
03000 261261