Insider Media Limited

Successful projects will be allocated cash from the government's new Growing Places Fund by the Worcestershire LEP early this year, chairman Peter Pawsey told Insider.

The LEP was oversubscribed with bids, particularly from the private sector, Pawsey said.

Details of the organisation's first annual conference in February are also set to be announced in the near future, as 2012's business agenda gears up.

"Huge headway was made in 2011 creating our excellent LEP boards, and setting out our structure, vision and strategy for growth and job creation," Pawsey said.

"Our public and private-sector partners are working well together to make a real difference to the future health and wealth of Worcestershire. Very encouragingly, we've been well oversubscribed with bids for the government's new Growing Places Fund, particularly from the private sector, and we expect to allocate funds to successful projects in early 2012."

Despite Worcestershire bucking the national trend, with unemployment, including youth unemployment, falling slightly in the last three months, the LEP will not be complacent, the chairman added.

"The macro-economic challenges are significant with the euro crisis, reduced consumer demand and the high level of uncertainty, but we are committed to create the best local conditions for growth, and we are working with government at all levels to work through these difficult times.

"That's why we're moving into 2012 with a huge sense of drive and purpose with several exciting opportunities ahead."