Hertfordshire Local Enterprise Partnership (LEP) has today (Monday 7 July) secured over £200 million investment for infrastructure, businesses and skills in the county by 2020/21 – with £21 million in new funding confirmed for 2015/2016.
This funding, part of the Government’s Growth Deal with Hertfordshire LEP, will help deliver 16,000 additional homes and about 13,000 new jobs. It includes:
Strategic investment in transport improvements, including a major extension of the London Underground at Watford, road upgrades for A120 and A602 together with improvements to public transport, cycling and walking across the county.
£18.85 million to establish three Growth Area Forums to advance housing and employment sites by 2020/21.
£5.3 million investment in 2015/16 to create new space for businesses at key sites (Broxbourne, Stevenage and Rothamsted).
To mark the announcement, Secretary of State for Health the Rt Hon Jeremy Hunt MP, visited the LEP’s offices at BioPark in Welwyn Garden City, where he met with businesses from the county’s thriving bioscience sector.
He said: “Hertfordshire has so much to offer – in addition to a world leading science and technology sector, there’s expertise in the creative industries, a highly skilled workforce and thriving small and medium sized businesses. By securing this funding, the LEP can ensure that this potential becomes a reality”.
John Gourd, Chair of the Hertfordshire LEP Board, said: "I am absolutely delighted that the Government has recognised the importance of targeted investment in Hertfordshire's infrastructure, skills and businesses in ensuring that we meet our incredible economic potential.”
“In addition to flagship infrastructure projects like Croxley Rail Link that will really open up the county, it's also great to see a real commitment to developing our skills and businesses through additional funding for projects like Broxbourne Enterprise Centre, Stevenage BioScience Catalyst, West Hertfordshire College and more. With this funding we can ensure that Hertfordshire has a brighter future than ever".
For the full Growth Deal, click here