North of Tyne Combined Authority bosses have unveiled a £30m fund designed to get people into work.
The Inclusive Economy Innovation Fund (IEIF) will be spent on supporting people find employment and get training.
Unemployed people from low income backgrounds or those struggling to find work due to health problems will be prioritised, authority bosses say.
The NTCA is looking to attract private sector investment to boost the fund.
Coun Joyce McCarty, NTCA cabinet member for employability and inclusion, said the Combined Authority hoped to be able to begin making investments soon.
She said: “This will focus and prioritise investment on those residents who need it most.
"The fund we are setting up will help us tackle inequality and create opportunity for all.
"We want to target our resources where they can make a real difference to people’s lives as part of our commitment to creating an economy that delivers for everyone and leaves nobody behind.”
The IEIF was unveiled at the meeting of the North of Tyne cabinet on Tuesday, October 22.
The combined authority has secured £20m a year for the next 30 years through its devolution deal to support and invest in Newcastle, Northumberland and North Tyneside.
Over the next 30 years it has ambitious plans to create 10,000 jobs and boost the local economy by £1.1bn.
