A significant long-term milestone has been reached for Warwickshire with news in the Chancellor’s budget that the County Council is to be one of three councils to be awarded a Level 2 Devolution Deal.
The deal will give the county increased powers to tackle two key agendas - levelling up and climate change - through devolution of its own Adult Education budget and strategic oversight of the UK Shared Prosperity Fund.
The Chancellor’s announcement follows Warwickshire’s Cabinet’s decision, yesterday (Tues 5 March), to participate in the West Midlands Investment Zone. This includes the Coventry and Warwickshire Gigapark, which is expected to create over 9,000 jobs and generate economic growth of around £2billion for the region.
The Level 2 Devolution Deal could come into being as early as April 2025 with the County Council gaining control of the £7.6m Adult Education Budget, enabling it to work with businesses on a specific local plan to tailor skills and learning to business needs.
It also gives the Council responsibility for the strategic planning and delivery of the £10m UK Shared Prosperity Fund which will help invest in communities and place, support local businesses and develop people and their skills across the county.
The Chancellor’s announcement follows the decision by Cabinet to participate in the West Midlands Investment Zone (WMIZ), one of eight similar zones across the country. Key for Warwickshire in the remit of the WMIZ will be the development of the Coventry and Warwickshire Gigapark on the Coventry Airport site.
The WMIZ will offer significant advantages, including tax incentives for businesses and the potential to use retained business rates to invest in activities designed to further develop selected industrial sectors – in Warwickshire’s case, advanced manufacturing sector.
Cllr Izzi Seccombe, Leader of Warwickshire County Council, said: “Together, the Devolution Deal and participation in the Investment Zone represent a significant long-term milestone for the County.
“They show recognition, nationally, that we are a place the Government trusts and believes is worth additional resources and powers to drive economic growth, jobs and skills.
“The Devolution Deal is an important step in Warwickshire’s journey. It provides a strong foundation on which to secure further powers and resources as devolution is embedded across the country.
“The Investment Zone brings thousands of new jobs, £2bn of economic growth, £180m of Government investment, and reinvestment into the Advanced Manufacturing sector.
“It will be a massive boost for the local and sub-regional economy. But it will also be a great lift for employment and one that, with the work we can do as part of our local skills plan, we expect residents from across the whole county to benefit from.”
A copy of the Cabinet Investment Zone report can be found here: West Midlands Investment Zone
A copy of the Cabinet Devolution report can be found here: Devolution for Warwickshire
Watch Cllr Izzi Seccombe talking about what the Devolution Deal means for Warwickshire here: