December 2011 • January 2012

St. Ives – Truro – Penzance – Helston – Camborne, Redruth – St. Austell – Saltash Launceston – Liskeard – Bodmin – St. Marys – Bude – Falmouth – Newquay. December 2011 • January 2012

Agenda • Welcome and objectives of today • 2. The Cornwall and IOS LEP • The Economies – Assets and Challenges • What is a LEP? • Who is our LEP? • Values • Governance & Communication • Business Community • Wider Community • Other LEPs • The Councils • Progress So Far • Strategic Development • The Future • 3. Tell us • Your Priorities and Challenges • Questions and Answers • 4. End

Today • Welcome and objectives of today • For you to understand our LEP • For us to understand your priorities and challenges as businesses • To help us identify our key priorities

Cornwall’s Economic Assets • Great Heritage • Great Image and reputation • – Numerous awards • Inspirational Firms • Above average growth in last ten years • Great assets • – Sea • – Geography • – Minerals • – Farming and Food • – People

Cornwall’s Economic Challenges • Small but growing economy • Very high self employment • Drop in VAT registered businesses • Youth unemployment • Low full time annual earnings • Higher level qualifications below national average • Population change sustains pressure on housing • Exploiting Superfast Broadband • Balance between • – Protecting key industries (e.g. tourism, agriculture, marine) • – Building above average growth areas

Isles of Scilly Economic Assets – Stunning environment – The Isles of Scilly brand – Niche tourism market – High knowledge base – Horticulture industry Economic Challenges – Mono-economy – Transport and I.T links – Economic cost of isolation – Housing – Infrastructure – Skills – Low wages

What is a LEP? – National Context • Government new approach – LEP’s at heart • White paper ‘Realising every place’s potential’ • Not prescriptive … • Vision: ‘…provide the knowledge and strategic leadership needed to drive sustainable private sector growth and job creation in their areas depending upon local priorities’ • 38 LEPs across England – need to determine those priorities

What is the LEP? • It’s about… • shifting power to the local community and businesses • encouraging and empowering enterprise • focusing on a few things • unblocking barriers • …determining priorities!

What is the LEP? It aims to… • Create more jobs • Improve skills • Help overcome barriers to business growth • Attract more private and public sector funds • Create infrastructure to help business thrive • Create a ‘can do’ enterprise culture • Protect the value of our environment • Seize the opportunities presented by superfast broadband and the global marketplace

Who are we? • The Board • Six appointed business members • Chris Pomfret, Gaynor Coley, Chris Loughlin, Richard Reed, Joe Keohane, Simon Tregoning • Five nominated Public sector/academic members • Alec Robertson, Chris Ridgers, Anne Carlisle, Philip Hygate, Robin Teverson • Two support staff • Mel Richardson and Debbie Osborne

Values • Openness and transparency • Evidence – based • Independent but consultative • Put all of Cornwall and Isles of Scilly first – not parochial • Non-bureaucratic

Governance and Communication Central Government Consulation Local Economy Stakeholders Incl. Public, private and voluntary sector bodies and consultative bodies LEP Board Councils x2 Coordination Strategy Other LEPs Implementation Agencies Contracts, money, targets, plans Targeted Actions

Progress So Far • Start Up Fund Bid – £74K • Capacity Fund Bid – £28K per year for 3 years • Enterprise Zone Bid – Newquay Aerohub • – 700+ plus jobs in aerospace sector by 2015 • – Tax breaks for up to 5 years • – Simpler planning via a Local Development Order • Regional Growth Funding: • – £13 million, total project cost £43 million • – Infrastructure investment • – Grants for business and social enterprises • Growing places award • – £4.2 million • Initial development of Transport Strategy and Skills and Education priorities • Support for other initiatives

LEP Strategy & Business Plan • LEP 5 year Strategy and Business Plan • ‘Not another strategy’ • Consultants ‘SQW’ appointed • Consultation key part: • – December/January road-shows • – Website • Final document and launch Spring 2012

Strategy Development LEP Board Sectors Enablers Other Sectors Renewable Energy Marine Manufacturing Tourism Creative Industries Skills Training Education SME Support Finance Infrastructure Delivered By External contractors, CDC, Council, Private Organisations, Academic institutions

The Future for the Cornwall and IOS LEP • To drive economic strategy through a business perspective • To champion a small number of initiatives • To seek funds where appropriate • To challenge government and local government (transport, planning, bureaucracy) • To support significant economic initiatives from the private sector and strategically relevant funding initiatives • To facilitate (employment and skills, mentoring) • To communicate with the business community

What will be success? • Continued economic growth • Belief and realising the potential • No grant dependency • Realistic challenger and supporter to Councils • Success will be when we are inundated • with lots of ideas and opportunities for • growth rather than “what money have • you got to give me”.

Cornwall and Isles of Scilly Local Enterprise Partnership PO BOX 723, TRURO TR1 9GH lep@cornwall.gov.uk www.cornwallandislesofscillylep.com

December 2011 • January 2012