1. John Gourd 4 September 2012

2. A well rehearsed story… ‘Powerhouse of UK economy’ GVA £25bn p/a ( 5 th largest outside London) 1m people 47,000 businesses High quality of life Highly skilled & entrepreneurial people

3. The reality? Losing our competitive edge Exporter of skilled workers to London Polarised economy – wealth/deprivation Business perceptions: Need to be proactive towards business Congested, creaking infrastructure Expensive - premises, salaries, housing etc.

4. …but better equipped to grow than most local economies Key sectors Life sciences Film & media Advanced manufacturing/ aerospace Business services (financial & ICT) Skills base Higher than UK average for level 2-4 skills Strategic location M25, M1, A1, 3 Airports, London Quality of life

5. So what is missing? A compelling vision for investment An ambitious, prioritised plan to grow our economy Buy-in from private & public sector A clearer understanding of business needs The ability to coordinate or share best practice The resources to deliver the above …recognition that other areas are getting their act together

6. LEP Vision: ‘To accelerate business-led economic growth in Hertfordshire’

7. Key Roles Strategic Leader Coordinator/ facilitator Advocate Investor

8. LEP Priorities 1. Encouraging enterprise and business growth and building on our innovation assets 2. Maintaining and improving the skills and employment prospects of residents 3. Identifying and prioritising the strategic infrastructure required for economic growth 4. Securing greater investment from business and government in Herts by improved promotion and advocacy activity Programme Boards developing Action Plans

10. Programme Board Priorities Innovation & Enterprise business incubation facilities across Hertfordshire Medium sized business growth Tailored support for key growth sectors, facilitating networking & securing R&D investment Skills & Employment Establishing more employer led skills provision – sectors/locations Developing a Hertfordshire Apprenticeships strategy Tackling youth unemployment Investment & Advocacy ‘open for business’ awareness campaign Establishing inward investment offer and support package Reviewing the current tourism offer Securing greater funding from UK & EU Government Strategic Infrastructure Refreshing the HIIS & exploring new financing options Supporting key transport investment priorities Kick starting infrastructure schemes via GPF superfast Broadband roll out across business locations

11. Operational Priorities 2012/13 A plan for economic growth Vision and priorities Programme Board Action Plans Increasing role in delivering infrastructure funding Allocated £15m to deliver infrastructure projects to kick-start growth - £11.5m allocated in first round Infrastructure summit in October DfT Transport funding Superfast Broadband Implement Team Hertfordshire Resource to work with UKTI and support district’s Inward Investment efforts Advocacy Campaign

12. My reflections so far LEPs are here to stay: Conduit for funding Mechanism to deliver policy Channel of communication The county is heterogeneous If we deliver, more resources will be available As a ‘small’ LEP we need to shout louder and avoid parochialism We can challenge the rules There will be winners & losers

13. Any Questions?