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East Midlands Chamber News

LLEP to develop local Industrial Strategy

Leicester and Leicestershire Enterprise Partnership (LLEP) is one of six named yesterday by Business Secretary Greg Clark to work more closely with Government to develop local Industrial Strategies.

 

Mr Clark made the announcement on a Cabinet visit to Newcastle.

 

North East, Tees Valley, West of England, Cheshire & Warrington and the Heart of the South West LEPs will also be the second wave of areas to benefit from working with the Government to develop their local Industrial Strategies.

 

The aim of local Industrial Strategies is putting regional people and businesses in the driving seat, allowing leaders to harness the strengths of their own areas in a targeted approach.

 

To ensure these local plans are underpinned and supported by robust institutions, the Government also published the conclusions of a review of Local Enterprise Partnerships (LEPs) and announced up to £20m of additional funding – a 50% increase in resource funding for LEPs.

 

The review also lays out the Government’s expectation of LEPs to improve their gender balance and representation of those with protected characteristics, with the aim of equal representation of men and women on boards by 2023.

 

Government launched the Industrial Strategy in November 2017. This sets out ambitions for the UK to improve its performance and create an economy that boosts productivity and earning power throughout the UK. It is a long-term plan that provides a policy framework against which major private and public sector investment decisions can be made.

 

The Industrial Strategy is based around five foundations of productivity that include: Ideas, People, Infrastructure, Business Environment and Place.

 

In addition, four Grand Challenges have also been included to put the UK at the forefront of the industries of the future. These are:
• Artificial Intelligence and Data Economy
• Future of Mobility
• Clean Growth
• Ageing Society

 

The Grand Challenges are an invitation to business, academia and civil society to work together to innovate and develop new technologies and industries in areas of strategic importance to the UK.

 

Three Combined Authority trailblazers have already been invited to develop a Local Industrial Strategy for their regions and Government has announced there will be a second wave of six Local Enterprise Partnership areas, including LLEP.

 

Kevin Harris, LLEP Chair said: "We have been planning our Local Industrial Strategy Prospectus for several months to ensure we were ready when the Government called for more regions to submit proposals. We engaged with over 100 businesses during a series of round table events in May, in addition to local authority, education and university partners to ensure that our local strategy reflects the key sectors and strengths of our region and meets the foundations and grand challenges that the Government wants to develop.

 

"Following our partnership work the LLEP submitted our Local Industrial Strategy Prospectus to Ministers and I am delighted that we have been selected to submit a full Local Industrial Strategy for our area. This means that we can now work with Government on major investment projects across key sectors to drive our economy forward, creating good quality jobs and improving infrastructure to make Leicester and Leicestershire a location of choice for businesses and a great place for people to live and work."

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