Following extensive consultation with Hertfordshire businesses, we have now published our revised Strategic Economic Plan for Hertfordshire, 2017 – 2030.
Our first Strategic Economic Plan was published in 2014. Since then we have negotiated three significant Growth Deals with Government and have secured around £55.3m of EU funding to invest in our businesses, people and places.
Politically and globally the world has changed radically over three years too. With that in mind we consulted widely with business leaders and stakeholders to assess whether the priorities laid out in our first Strategic Economic Plan were still broadly the right ones.
From these consultations, we determined that our four main drivers for economic growth should remain the same. These are:
Priority 1: Maintaining global excellence in science and technology
Priority 2: Harnessing our relationships with London and elsewhere
Priority 3: Reinvigorating our places for the 21st Century
Priority 4: Foundations for growth
The refreshed SEP now also takes into account wider macro-economic and political changes, such as the impact of leaving the EU, the growth of London as well as changing patterns of working and living in relation to digital connectivity which is set to have a transformative effect on the future of our towns.
Our SEP should also be read within the wider national context of the Government’s Industrial Strategy Green Paper which outlined three overarching challenges facing the UK. These can be summarised as: building on our strengths and extending excellence into the future; ensuring that every place meets its potential; and making the UK one of the most competitive places in the world to start or to grow a business.
It is encouraging that these challenges map directly onto the four priorities set out in our refreshed Strategic Economic Plan and we welcomed the opportunity to make our own response to the Industrial Strategy.
You can read more about the opportunities we have identified and our more detailed full response to the proposed Industrial Strategy here.
It is our intention now to build on both sets of priorities identified for economic growth with a view to creating our own Industrial Strategy for Hertfordshire that truly reflects the needs of our people, places and businesses.View our Strategic Economic Plan