Our Strategic Economic Plan sets out our ambition to create by 2030 16,600 more homes, 38,600 additional jobs and leverage £590m private sector funding. By collaborating with businesses, education providers and local authorities we are committed to realising our region’s full economic potential.
These are just some of our achievements to date:
We were allocated £199m from the first round of Growth Deals in July 2014. This was the fifth largest settlement (per head) across the 39 LEP areas and represents a major achievement for Hertfordshire. In 2015 we secured an additional £22.3m to be invested in the county between 2016 and 2021, bringing the total expanded Growth Deal to £221.5m. A further call for projects for the period 2017/2018 is anticipated.
Hertfordshire Growth Hub
As part of our Growth Deal commitment to co-ordinate and simplify business support we have established the Hertfordshire Growth Hub to provide tailored business support to small to medium sized businesses.
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.
We played a pivotal role in helping to bring the £55m Cell Therapy Catapult’s manufacturing centre to Stevenage Bioscience Catalyst, consolidating Stevenage’s position at the heart of the life-sciences cluster. In addition to accelerating the second phase of development at Stevenage Bioscience Catalyst our Growth Deal includes new spaces for businesses at two other key sites: Broxbourne Enterprise Centre and Rothamsted Research Campus.
Our economic strategy is to drive growth through three Growth Areas defined by the major radial corridors:
M1/M25 – including Hemel Hempstead, Watford and St Albans
A1(M) – including Stevenage, Welwyn Garden City, Hatfield and Letchworth Garden City
A10/M11 – including Bishop’s Stortford, Hertford and Broxbourne
As part of this strategy we are engaging with stakeholders and the wider business community in each of these Growth Area Forums to identify priorities including strategic development sites and gaps in infrastructure provision that will be championed by the LEP to unlock private sector investment and job creation.
Our focus stretches wider than Hertfordshire's borders. We will work with other LEPs and neighbouring counties on issues of regional and national signifigance such as Crossrail 2, HS2 and help to inform the debate on managing London and the South East's future growth.
For more information on how we are making our Strategic Economic Plan a reality view Our programmes.