“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

Environmental sustainability

Inclusion

Our BIG opportunities

Marine / City Deal Hinkley legacy Exeter Smart Jobs Aerospace

Rail, Road and Digital Connectivity Skills Infrastructure

Dependent on

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 .

• 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

Growth Deal – Somerset headlines

Support for businessGrowth 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 prosperityheartofswlep.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