TODAY Enterprise M3 LEP is celebrating after being awarded a further £29.9million of funding from the Government’s Local Growth Fund, plus £42million in loans from the Public Works Loan Board.

This is in addition to the £118.1m of funding from the Local Growth Fund which was announced in July 2014.

Welcoming the news the Local Enterprise Partnership’s chairman Geoff French, said: “Enterprise M3 chairman Geoff French, said: “Today we are celebrating the fact that the Enterprise M3 area has secured a further £29.9 million from the Government Local Growth Fund plus £42 million in loans from the Public Works Loan Board.

“This investment, in addition to the £118.1million we secured last year, highlights the significant value that this Government places on supporting and growing strong local economies such as ours. “We will use this investment smartly, only investing in projects that will provide measureable benefits and economic growth in our area.

“It is for this reason that we have been working, and will continue to work, with our local and regional partners from the private, public and not-for-profit sectors to identify and then deliver projects that will bring about real and positive economic change across the Enterprise M3 area.”

The funding announced today will be used to support 14 infrastructure projects across the Enterprise M3 area, which stretches from the New Forest to the hinterland of London, coving mid to north Hampshire and south west Surrey.

The Enterprise M3 Growth Deal, which is now worth £148million, will bring forward up to 4,000 new homes, create up to 7,000 new jobs, attract up to £410million new public and private sector investment into the area and improve transport links within and between key towns in Surrey and Hampshire.

A transport scheme to enhance the capacity of Brighton Hill Roundabout in Basingstoke are among the projects that have been awarded funding.

Others include, an Enterprise M3 area-wide project to support the development of a Woodfuel Hub Network, the provision of a new exhibition hall at the Farnborough International Airshow site and a town centre regeneration project in Addlestone that will create over 200 new housing units and 200 jobs.