Heart of the South West Local Enterprise Partnership

“The LEP - enabling, supporting and championing economic growth”

Our Strategy to enable investment in better jobs, improved skills and increased prosperity

Heart of the South West LEP

Where have we got to • Strategic Economic Plan (SEP) - An over-arching strategic economic plan, setting out our ambition and priorities for growth as required by Govt • Growth Deal - Local Growth Fund competitive bid to Govt plus asks for “freedoms and flexibilities” • EU SIF – submitted and responding to formal feedback from Govt • Plymouth and Peninsular City Deal approved and benefitting Somerset

The SEP’s Core Aims for Growth

Maximising employment opportunities

Environmental sustainability

Creating the conditions for growth

Inclusion

Our BIG opportunities

Marine / City Deal

Hinkley legacy

Exeter Smart Jobs

Aerospace

Dependent on

Rail, Road and Digital Connectivity

Skills Infrastructure

Growth deal position LEP’s transport, digital, skills and enterprise support infrastructure requires investment on a transformational scale to enable growth. LEP local growth fund “asks” and wider requests of Government focus on the “big” opportunities and barriers. Negotiations with Govt ongoing. Deal likely to be taking shape by end of June and announced by summer recess. Government “asks” of LEPs and their local authorities likely to be part of the Deal .

Growth Deal – Somerset headlines • Local transport improvements, FE College capital developments and broadband/mobile connectivity improvements in Somerset potentially to be funded by LGF • LEP’s wider growth deal asks include Somerset infrastructure priorities including A303 improvements • Government focus on nuclear and flood response being key parts of the Deal

Support for business Growth Hub • • • • • •

Vouchers for rural businesses Grants for job creation Access to Finance aid Business Engagement Service Clear signposting Export advice

More jobs, better jobs, greater prosperity heartofswlep.co.uk

By 2030: • Transformed growth rate from below the national average to above • Doubling the number of new jobs and 50% more houses • Approaching £50bn of GVA • Transport / skills infrastructure fit for the 21 century • Our urban and rural economies strong and working together