In February I made a trip to meet with the Guangdong Provincial Office of Science and Technology in the city of Guangzhou to help promote trade relations between our County and China's fourth most populated province! I joined a delegation from Lancaster University to sign a five-year memorandum of understanding to promote enhanced partnerships between UK and Chinese small and medium sized enterprises specialising intechnology through collaborative research projects leading to the development of new products and services for world markets.
The £5 million Lancaster-China Catalyst Programme, part-funded by Lancashire County Council, aims to revitalise the UK’s position in the global exports market, create 240 jobs, help 400 domestic businesses and boost the economy by £40m. Lancaster University's research excellence and their pre-existing links with China are a real beacon for our County in helping to build our global export market and support the vital work of our County's SMEs. Working together with the University we are putting the spotlight on technology businesses in Lancashire and ensuring thatwe have a seat at the top table of international investment and trade for the sector.
We're putting a lot of work into supporting business right across our County. As a Party it is one of our key priorities in office to promote the creation of sustainable and meaningful employment for residents in Lancashire. The City Deal which I signed off in September is set to bring over £1 billion in the way of new economic activity over the next ten years. We will seethe development over of 20,000 new jobs, 15,000 new homes and a £450million investment in critical and strategic infrastructure, employment development and housing. Investment in our infrastructure cannot be overstated in fostering the commercial environment and distribution links our businesses need to thrive.
I was pleased, to this end, to cut the first sod for the Heysham to M6 link in February. The development and construction alone will see over 3,000 people employed with 100 of these being local, currently unemployed, job seekers who will betrained up and taken on. Access routes to existing industrial areas and development sites alongside a new 'park and ride' scheme are all designed to help boost Lancaster's local economy and that of the region as a whole. £123 million will be invested in the project with early reports indicating that for every £1 spent we will see £4.40 returned for residents in Lancaster and throughout Lancashire.
These are just a few of the projects we have been working on over the last nine or so months to keep Lancashire's economy moving forward. Labour is serious about supporting businesses in Lancashire to deliver the jobs, wealth and services our County needs, we are very much open for business.
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