Perfectly placed for business: A Strategy for Smart Economic Growth in Hertfordshire, 2013-2030 and Strategic Economic Plans and Local Growth Deals.

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Presentation transcript:

Perfectly placed for business: A Strategy for Smart Economic Growth in Hertfordshire, and Strategic Economic Plans and Local Growth Deals

Our Vision: By 2030, Hertfordshire will be among the UK’s leading economies, helping to realise the full economic potential of the assets and opportunities within the Golden Triangle Priority 1: Maintaining global excellence in science and technology Priority 2: Harnessing our relationships with London (and elsewhere) Priority 3: Re-invigorating our places for the 21 st Century Our Guiding Principle: Growing smartly as a perfect place for business Perfectly placed for Business: A strategy for Smart Economic Growth in Hertfordshire,

How it all fits together year Vision & Strategy: 3- 5 Year delivery plan Funding schemes Perfectly placed for Business EU Investment Strategy £60m Single Local Growth Fund £40-80m (TBC) Local Funds HE/FE, LA, LEP Private (TBC) LEP Strategic Economic Plan Projects

Strategic Economic Plan Three on-going processes: –“Top down” led by LEP strategy & programme boards –new urban futures, working with local authorities on larger towns (and then smaller ones) –“Bottom up” led by local authorities 15 projects now emerging

Emerging Projects  1A: Access to Growth 1B: Bioscience 1C: Equity/funding gap 1D: Skills for science and technology-based businesses 1E: Agri-science 1F: Green/env tech 1G: Advanced engineering 2A: Film/TV sector 2B: Sport/leisure/recreation/tourism 2C: Growth Corridors (incl key transport schemes) 3A: Urban Futures – Watford/ Stevenage/ Hemel (incl some transport schemes) 3B: Digital Infrastructure 3C: Locations for growing enterprise/ FE Campuses for enterprise 3D: Understanding the skills that businesses in Hertfordshire need

How we will be assessed Description Rationale Strategic fit Options Activities Costs / resourcing Outputs / outcomes VfM assessment Timescales & milestones Delivery arrangements Risks Assessment criteria include: Rationale Risks VfM Non-delivery in 2015/16 will be judged harshly

Timeline set out by government December 2013 LEPs to share their first draft SEP with government March 2014 LEPs to submit a final version of their SEP July 2014 Government to make a formal offer in relation to SLGF April 2015 Implementation of Local Growth Deal to begin

Issues to work through Prioritisation Governance and resourcing Delivery mechanisms Defining local contributions Cross border collaboration Advocacy

Perfectly placed for business: A Strategy for Smart Economic Growth in Hertfordshire, and Strategic Economic Plans and Local Growth Deals