Preston has been invited by the government to bid for City Deal status, which will open up channels of cash and control to improve business and create jobs.
Lancashire County Council and Preston City Council are working together on the bid after it became one of 20 regions invited to pitch by the government.
Lancashire County Council chief executive Phil Halsall estimates that securing city deal status could mean an additional 50,000 jobs in surrounding areas such as East Lancashire and Fylde, whilst the Lancashire Economic Partnership has also supported the bid. The successful City Deal applicants will be notified in March.
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