Perfectly placed for business:

A Strategy for Smart Economic Growth in Hertfordshire, 2013-2030

and

Strategic Economic Plans and Local Growth Deals

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

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

Our Guiding Principle:Growing smartly as a perfect place for business

Perfectly placed for Business: A strategy for Smart Economic Growth in Hertfordshire,

2013-2030

How it all fits together15-20 year Vision

& Strategy:

3- 5 Year delivery plan

Funding schemes

Perfectly placed for Business

EUInvestment

Strategy

£60m

Single Local

Growth Fund

£40-80m (TBC)

LocalFundsHE/FE,LA, LEPPrivate(TBC)

LEP Strategic Economic Plan

Projects

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

Emerging Projects

How we will be assessed

DescriptionRationaleStrategic fitOptionsActivitiesCosts / resourcingOutputs / outcomesVfM assessmentTimescales & milestonesDelivery arrangementsRisks

Assessment criteria include:•Rationale•Risks•VfM

Non-delivery in 2015/16 will be judged harshly

Timeline set out by governmentDecember 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

Issues to work through

• Prioritisation

• Governance and resourcing

• Delivery mechanisms

• Defining local contributions

• Cross border collaboration

• Advocacy

Perfectly placed for business:

A Strategy for Smart Economic Growth in Hertfordshire, 2013-2030

and

Strategic Economic Plans and Local Growth Deals