What are LEPs?
Local Enterprise Partnerships are privately-led organisations which work to secure and channel investment into their area to create new opportunites for increased employment and financial growth.
Twenty-four LEPs across England and Wales were approved in October by the Secretary of State for Communities and Local Government.
The LEPs can bid for Government capital funding for specific projects through the Regional Growth Fund, which will allocate £1.4 billion between 2011 and 2014.
This replaces the previous allocation system, whereby local regeneration quangos like the North Staffordshire Regeneration Partnership and Renew North Staffordshire could submit bids to a regional development agency, such as Advantage West Midlands, to help finance their schemes.
These quangos will be phased out from April.
The Stoke-on-Trent and Staffordshire LEP is led by former Michelin managing director Jim Rickard, and members include Dudson Group chairman Ian Dudson, JCB's head of learning and development Ken Stepney, Staffordshire County Council's leader Philip Atkins, and chief executive, Nick Bell, as well as Stoke-on-Trent City Council leader Mohammed Pervez and chief executive John van de Laarschot.
(The Sentinel - 11/01/11)