The bid had two main strands, with the internationally renowned Norwich Research Park (NRP) developed into a world-class science centre acting as a catalyst.
Building on private sector investment, the intention is to expand the NRP to four times its current size.
But the intention is to bring much wider benefits, with the partnership confident a major transformational boost to the research park will help stimulate growth to the whole greater Norwich area.
Hand-in-hand with any major boost to the jobs market, is the need for additional homes and infrastructure, including community facilities, transport connections and utilities.
By working together and maximising the opportunities for government and private sector funding, as well as using new powers to be granted, the partnership will be set to accelerate the area’s growth, so vital for economic recovery.
As well as providing additional jobs, this venture will also seek to play a role in addressing the mismatch, identified by local businesses as a local issue, between job opportunities and skills provision.
The next stages
A Greater Norwich Growth Board has been proposed to oversee the delivery of the City Deal and the area’s wider programme for growth. It will be put in place on approval from each of the Greater Norwich councils and is due to provide strategic direction, co-ordination and monitoring against targets.