Richard Wright, executive director of Sheffield Chamber of Commerce, said:
“The Chamber welcomes the LEP’s submission and applauds the hard work that has been undertaken.
“Stakeholders in the region, particularly the private sector, need to recognise this is effectively a bidding document to Government.
“Compared with some of the “Monopoly” numbers we hear from other regions we are pleased this seems more realistic.
“It’s important we’ve hit this Government imposed deadline and we continue the work to develop a realistic commercially driven transformational plan which focuses less on the process and more on real wealth generation.
“This will take true partnership and recognition that all parties bring their strengths to the table.
“A Combined Authority is the natural accountable body and can act as program coordinators.
“However, we have to build more commercial expertise into developing and running the activities and what the private sector bring.
“There is a big difference between managing a process and making money!
“We have to recognise this or we will continue to get an insufficient return on the money we spend.
“Nobody can argue that the millions of pounds of Objective 1 and ERDF we have spent have really delivered the return we wanted.
“The recent independent economic review shows we have a region that does not compare favourably with most of the others.
“This is our real challenge going forward and it will take a different type of leadership by everybody to meet that challenge.”