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Coalition government plans to replace the Regional Development Agencies with Local Enterprise Partnerships.
These will be business-led bodies that work to promote local economic growth. Chaired by a leading businessman and supported by local authorities and other public sector bodies, a Local Enterprise Partnership would decide economic priorities and respond to what matters most to the local economy - whether that is support for small businesses, the transport network, the availability of suitable land for development, or any other issue that matters to local business. Government wants to receive Local Enterprise Partnership proposals by 6th September.
http://www.communities.gov.uk/documents/localgovernment/pdf/1626854.pdf