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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• Initially dependent on HCC
support – now moving towards independent structure
Hertfordshire LEP Board
5 Corporate members
2 SME members
3 Local Authority Members
1 Not for Profit 1 HE/FE
The Game Changes
Michael Heseltine’s NO STONE UNTURNED – in the pursuit of GROWTH
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?
Hertfordshire’s economy today
• 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…
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
GVA per head has grown slowly over the last two decades...
Hertfordshire
London
GC-GP
…despite a superb strategic location at the heart of the Golden Triangle
Our strategy
Our Vision:By 2030, Hertfordshire will be the leading economy at
the heart of the UK’s Golden Triangle
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
Our Guiding Principle:Growing smartly as a perfect place for business
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
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
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
Overall timescale
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
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
How to provide feedback
• Please email any thoughts to [email protected]
and/or• Please complete our online response form
http://www.keysurvey.co.uk/f/520255/17ba/
Panel Members• John Gourd,
Johnson Matthey (Chairman)
• Yolanda Rugg, Hertfordshire Chamber of Commerce
• Dan Dark, Warner Bros. Studios