Cllr Julian Daly, LEP Board Member David Gauke, Financial Secretary - PowerPoint PPT Presentation

Welcome Cllr Julian Daly, LEP Board Member David Gauke, Financial Secretary to the Treasury, and MP for SW Hertfordshire

The implications of London’s growth Barney Stringer, Director Quod

Benefiting from HS2 Scott James-Eley, Skills and Employment Strategy Manager, HS2

The creative industries and the economy Roger Morris, Managing Director, Elstree Studios

Q&A with Panel

Refreshment Break

Hertfordshire LEP – opportunities and challenges for the area Cllr Julian Daly, Leader of St Albans City and District Council, and LEP Board Member

M1/M25 Growth Area: Economic overview

A great location for business Three key towns which together have ‘city’ scale -Watford -Hemel Hempstead -St Albans Rural area to the west London connections are crucial... as are international ones, via Heathrow and Luton Airports

People in the M1/M25 Growth Area • Home to half of all people in Hertfordshire • Rapid population growth • High employment and activity rates • Good workforce skills levels

Businesses in the M1/M25 Growth Area (i) • High rates of business survival among start-ups • Dynamic business community: - SMEs - major corporates

Businesses in the M1/M25 Growth Area (ii) Important and distinctive growth opportunities including: • Film and TV, particularly linked to Warner Brothers and Leavesden; and the studios at Elstree • Environmental technologies , drawing on Rothamsted and BRE; and the wider Green Triangle

Economic Growth Narrative • Modelled projections – so treat with caution • Compared to Hertfordshire and UK: - past growth rates have actually been quite weak - projected future growth rates are stronger • But in practice there are questions as to how growth will be accommodated

Some challenges looking ahead including... • Very tight labour market – local employers struggle to compete with London salaries • Transport infrastructure is congested; and a polycentric settlement pattern presents challenges in developing solutions • High – and rising – house prices • Pressure to convert employment land to residential uses • ‘On the edge of London’: M1/M25 Growth Area may be invisible and/or subsumed within ‘the London challenge’ in policy terms

... but also some major opportunities • Superb location for London and international connectivity • Two clusters of real significance and potential • Large complement of head offices • Good skills levels • Significant infrastructure investment is planned or underway • High level of new firm formation and survival rates are generally high • Historic and heritage assets • High quality of life

Hertfordshire LEP Progress and Priorities Neil Hayes LEP Executive Director

Hertfordshire LEP Board 4 Local Authority Members 6 Corporate members VACANT 2 HE/FE 2 SME members 1 Not for Profit

The LEP Strategic Leader Facilitator/ Investor Co-ordinator Advocate

How it all fits together Spend breakdown 20 Years Business 14% 5 Years Skills 13% Infrastructure £223m 73%

Table Discussions Help set the LEP’s future priorities across the M1/M25 corridor. Topics for discussion: • Employment and Skills • Infrastructure • Business Growth • Priority Places Table discussion and voting (individual & group) – 10 mins per topic

Employment and Skills a) Increase take up of Apprenticeships (particularly STEM skills) b) Increasing number of SMEs who provide training or development of staff c) Business involvement in enterprise and employability activities within schools/colleges /UoH d) Influence FE, HE & training providers to deliver more demand- led training e) Supporting vulnerable groups into employment f) Other

Infrastructure a) Lobbying for transport investment b) Improving broadband capacity c) Supporting the development of future employment & housing sites d) Developing new infrastructure funding models e) Ensuring adequate utilities provision f) Other

Business Growth a) Expanding our business start up/growth support package b) Developing more business incubation facilities c) Attracting inward investment and tourism d) Providing targeted support for key sectors e) Establishing dedicated finance schemes for SMEs f) Other

Priority Places a) Watford b) St Albans c) Hemel Hempstead d) Elstree/Borehamwood e) Croxley/Kings Langley f) Other

Get Involved and Next Steps • Feedback – Comment Card • Event follow up – key tasks, future agenda • Get involved in the LEP – speak to the Team and Board • Keep up to date: http://www.hertfordshirelep.com/growth-area-forum.aspx

Looking Ahead • Task and Finish Groups • Future Forum events • Growth Deal 3 • EU skills and business support funding

Conclusion

Lunch/Networking