What is the LEP?
Hertfordshire Local Enterprise Partnership is one of 38 LEPs across the country tasked by the Government to drive forward sustainable private sector growth and job creation.
LEP Funding Sources
The LEP was established in 2010 and recognised by Government in 2012. LEPs bid for funding, known as the Growth Deal, through a competitive process. The period of funding runs from 2015/16 to 2020/21. To date we have secured a £221.5m Growth Deal for Hertfordshire, with a further round of Growth Deal funding allocation anticipated for funding for projects from 2017/18. View our Infographic for an overview of our current funding commitments.
Hertfordshire has secured just over £60m from the European Structural and Investment Funds, for investment into projects from 2015 onwards. Calls for projects became live in March 2015.
In addition to Growth Deal and EU funding, we have also been allocated £16.2m Growing Places Fund, a revolving loan scheme to unlock developments and enable the delivery of new jobs, commercial space and homes.
We bring together local businesses, education providers, voluntary organisations and social enterprises as well as the public sector to tackle key barriers to growth. While we are not involved in direct delivery our role is to be a:
• Strategic leader: to develop a long-term vision for Hertfordshire’s economy
• Co-ordinator: to create the relationships and networks that are needed for partnership working to flourish
• Investor: we have a proven track record in securing significant investment for the county.
• Advocate: we are here to ensure that Government investment and strategy keeps the private sector at the heart of its decision making? We will continue to make the case for further investment in Hertfordshire.
The LEP Board and Team
The business-led Board is responsible for setting the vision and strategic priorities for publically funded economic development in the county. You can view Board Papers here. It is supported by a small Executive Team which is responsible for the day-to-day running of the Local Enterprise Partnership.