An agreement has been signed which will give the Greater Lincolnshire Local Enterprise Partnership (LEP) a leading role in attracting inward investment into the region.

The LEP has signed a Memorandum of Understanding with UKTI, the Government’s trade and investment department, and will take the lead in co-ordinating investment across Greater Lincolnshire.

The agreement, which is one of a number being developed across the country, aims to promote the resources and incentives available in Greater Lincolnshire as well as working to direct international projects to the UK.

It outlines how the LEP and UKTI will work together to support inward investment into the region.

Ursula Lidbetter, Chair of the Greater Lincolnshire LEP, welcomed the agreement. “Greater Lincolnshire has a lot to offer to businesses looking to invest in the UK, including plenty of affordable land, a skilled workforce, excellent schools and universities and easy access to five airports and the North Sea ports.

“Now that we have a formal agreement in place we will be able to work closely with UKTI to co-ordinate inward investment activity and tap into the unrivalled global network to which UKTI has access.”

Steve Clarke from UKTI said: “This memorandum of understanding will be a vital part of improving the experience for companies wishing to invest in the UK. It will harness the UK's global integrated network while at the same time further strengthening the important link with local communities and business.

“Foreign companies seeking to locate and grow their business in the UK will now have a clear point of entry to the Government's inward investment support and a single pathway right through to the local level.

“International businesses continue to choose the UK as the most attractive destination in Europe for their investment projects. This Memorandum of Understanding and others like it underline our commitment to maintaining this position.”