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Smart economic growth in Hertfordshire

Smart economic growth in Hertfordshire. John Gourd, Chairman, Hertfordshire Local Enterprise Partnership. The LEP. One of 24 initially approved in 2010, 39 now in place Formal Board approval March 2012 HCC Accountable body Small LEP/HCC exec team at BioPark, WGC

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Smart economic growth in Hertfordshire

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  1. Smart economic growth in Hertfordshire John Gourd, Chairman, Hertfordshire Local Enterprise Partnership

  2. The LEP • One of 24 initially approved in 2010, 39 now in place • Formal Board approval March 2012 • HCC Accountable body • Small LEP/HCC exec team at BioPark, WGC • Initially dependent on HCC support – now moving towards independent structure

  3. Hertfordshire LEP Board 5 Corporate members 3 Local Authority Members 1 HE/FE 1 Not for Profit 2 SME members

  4. The Game Changes Michael Heseltine’s NO STONE UNTURNED – in the pursuit of GROWTH

  5. The key stages • What do we want the economy of Hertfordshire to be like in 2030? • The Vision needs to provide a clear sense of purpose and direction • How is the Vision going to be achieved? • What choices need to be made?: what is the LEP not going to do? • The Strategy needs to be agreed for the medium term – governance will be crucial • What needs to happen over the next 5-7 years to advance the Strategy? • Who is going to do it? • How will it be resourced?

  6. Hertfordshire’s economy today • Hertfordshire’s economy: • 1.1m people • 600,000 jobs • 50,000 businesses • £26bn GVA • In relation to 38 other LEPs: • 4th “most resilient” • 4th best performing in terms of GVA per capita • 6th best performing in terms of high level qualifications • But residence-based earnings (£597 per week) are much higher than workplace-based ones (£539 per week) • Housing increasingly unaffordable, particularly for those working locally • Hertfordshire’s “direction of travel” is concerning…

  7. GVA per head has grown slowly over the last two decades... London GC-GP Hertfordshire

  8. …despite a superb strategic location at the heart of the Golden Triangle

  9. Our strategy Our Vision: By 2030, Hertfordshire will be the leading economy at the heart of the UK’s Golden Triangle Our Guiding Principle: Growing smartly as a perfect place for business Priority 1: Nurturing science-based enterprise and innovation Priority 2: Harnessing our relationships with London Priority 3: Re-invigorating vibrant towns for the 21st Century

  10. We will: support the development of the Rothamsted Enterprise and Research Centre – and perhaps later an ambitious science park continue to develop and support the principal bioscience facilities (Bioscience Catalyst; BioPark) engage fully in the Golden Triangle bioscience community to address key issues – e.g. equity gap ensure that physical infrastructure is attuned to the Golden Triangle – e.g. major sites, A1(m) J6-8 develop effective training provision, especially around advanced manufacturing/engineering and IT Priority 1: Enterprise and innovation at the heart of the Golden Triangle

  11. We will: support the growth of the film and media sector in partnership with other LEPs encourage the growth of sport, leisure and cultural activities as key economic drivers work with local authorities to prioritise sites for high quality business parks and value added logistics ensure that wider elements of the strategic infrastructure are aligned (e.g. Watford Junction Interchange Redevelopment; M1-Maylands Link Road) work with other LEPs to advance the potential of the M11 Corridor Priority 2: Harnessing our relationships with London

  12. We will: advance a new vision of town centres develop appropriate provision for enterprise across Hertfordshire’s towns ensure Hertfordshire is a “smart county” with the highest quality broadband and the creative use of mobile apps., etc., especially in the town centres encourage a new dialogue in working towards a Hertfordshire-wide spatial plan Priority 3: Re-invigorating vibrant towns for the 21st Century

  13. Overall timescale

  14. From Strategy to Action • Strategy forms basis of our ‘Growth Deal’ for 2015/16 • £2bn available nationally - Funds include: • Transport - • Housing – New Homes Bonus • Skills – capital and revenue • £59m EU funding over 2014-2010 • Deals will be assessed on: • Ambition and Rationale  • Value for Money • Delivery and Risk • Buy-in from partners • Challenging timetable needs to be in place over 2014

  15. Reflections LEPs are here to stay: Conduit for funding Mechanism to deliver policy Channel of communication A Hertfordshire LEP is an advantage, however Fierce competition for resources and profile We need convincing propositions e.g. growth deals, investing in success We need your support for our leadership role on the economy

  16. How to provide feedback Please email any thoughts to consultation@hertfordshirelep.co.uk and/or Please complete our online response form http://www.keysurvey.co.uk/f/520255/17ba/

  17. Panel Members • John Gourd, • Johnson Matthey (Chairman) • Yolanda Rugg, • Hertfordshire Chamber of Commerce • Dan Dark, • Warner Bros. Studios

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