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Perfectly placed for business: A Strategy for Smart Economic Growth in Hertfordshire, 2013-2030

Perfectly placed for business: A Strategy for Smart Economic Growth in Hertfordshire, 2013-2030 and Strategic Economic Plans and Local Growth Deals. Perfectly placed for Business : A strategy for Smart Economic Growth in Hertfordshire, 2013-2030. Our Vision:

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Perfectly placed for business: A Strategy for Smart Economic Growth in Hertfordshire, 2013-2030

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  1. Perfectly placed for business: A Strategy for Smart Economic Growth in Hertfordshire, 2013-2030 and Strategic Economic Plans and Local Growth Deals

  2. Perfectly placed for Business: A strategy for Smart Economic Growth in Hertfordshire, 2013-2030 Our Vision: By 2030, Hertfordshire will be among the UK’s leading economies, helping to realise the full economic potential of the assets and opportunities within the Golden Triangle Our Guiding Principle: Growing smartly as a perfect place for business Priority 1: Maintaining global excellence in science and technology Priority 2: Harnessing our relationships with London (and elsewhere) Priority 3: Re-invigorating our places for the 21st Century

  3. How it all fits together 15-20 year Vision & Strategy: Perfectly placed for Business 3- 5 Year delivery plan LEP Strategic Economic Plan EU Investment Strategy £60m Single Local Growth Fund £40-80m (TBC) Local Funds HE/FE, LA, LEP Private (TBC) Funding schemes Projects

  4. Strategic Economic Plan • Three on-going processes: • “Top down” led by LEP strategy & programme boards • new urban futures, working with local authorities on larger towns (and then smaller ones) • “Bottom up” led by local authorities • 15 projects now emerging

  5. Emerging Projects • 1A: Access to Growth • 1B: Bioscience • 1C: Equity/funding gap • 1D: Skills for science and technology-based businesses • 1E: Agri-science • 1F: Green/env tech • 1G: Advanced engineering • 2A: Film/TV sector • 2B: Sport/leisure/recreation/tourism • 2C: Growth Corridors (incl key transport schemes) • 3A: Urban Futures – Watford/ Stevenage/ Hemel (incl some transport schemes) • 3B: Digital Infrastructure • 3C: Locations for growing enterprise/ FE Campuses for enterprise • 3D: Understanding the skills that businesses in Hertfordshire need

  6. How we will be assessed • Assessment criteria include: • Rationale • Risks • VfM • Non-delivery in 2015/16 will be judged harshly

  7. Timeline set out by government December 2013 LEPs to share their first draft SEP with government March 2014 LEPs to submit a final version of their SEP July 2014 Government to make a formal offer in relation to SLGF April 2015 Implementation of Local Growth Deal to begin

  8. Issues to work through • Prioritisation • Governance and resourcing • Delivery mechanisms • Defining local contributions • Cross border collaboration • Advocacy

  9. Perfectly placed for business: A Strategy for Smart Economic Growth in Hertfordshire, 2013-2030 and Strategic Economic Plans and Local Growth Deals

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