Herts LEP praised in report on unique impact of LEPs on local economies

                           
07/11/2016
HertsLEP

A recent report has praised the Hertfordshire LEP for its vital role in ensuring the Cell Therapy Catapult (CTC) chose the Stevenage Bioscience Catalyst Campus as the site for its manufacturing centre. 

The Hertfordshire LEP was specifically praised for its crucial intervention which ensured the Stevenage Bioscience Catalyst Campus was selected by the CTC:

"The Cell Therapy Catapult (CTC) has chosen to build its manufacturing centre on the Stevenage Bioscience Catalyst campus, and is expected to create up to 150 jobs, generate £1.2bn of revenue by 2020 and drive economic growth in Hertfordshire. Hertfordshire LEP played a crucial role in this decision through agreeing a timely investment in road infrastructure to support the development. In this way, the area was able to secure a £55m state-of-the-art manufacturing centre. The ability of the LEP to quickly make a strategic decision of this nature demonstrates the value that LEPs can bring to local industrial strategy."

The Herts LEP was keen to support this project to help consolidate Stevenage’s position at the heart of the life-sciences cluster. This move reflected the LEP's commitment to sectors in which Hertfordshire is a leader, including R&D and science and innovation.

The research, commissioned by the LEP Network, reveals how LEPs are delivering a unique approach to effective economic growth and bringing a winning ‘LEP approach’ to business engagement, devolution and industrial strategy. It assessed the extent to which LEPs have a unique impact in their local economies, and the value they bring to the table at a time when their core mission of economic growth and increased productivity is central to government policy.

The LEP Chairs on the LEP Network Management Board responded to the report: “LEPs clearly have the credentials to deliver: we are business led, operate extremely efficiently, and are able to think and act strategically to support our local economies. This report clearly presents the evidence for that.”

Access more information on the report here.

Read the full report here.