Presentation on theme: "Solent Local Enterprise Partnership. Solent LEP One of 24 local enterprise partnerships to be given the green light by government to establish the partnership."— Presentation transcript:
Solent LEP One of 24 local enterprise partnerships to be given the green light by government to establish the partnership Solent outline proposal met Government’s expectations in terms of strong business and civic support, economic geography, and added value and ambition Commitment to formally establish the Solent LEP by April 2011
The Functional economic area Anchored around the Isle of Wight, the two cities of Portsmouth and Southampton and the M27 corridor and Solent waterway Population of circa 1.3m and some 50,000 businesses
Solent LEP - Our Vision Deliver an environment that will better facilitate economic growth in the Solent area, allow businesses to grow, become more profitable, greener and enable new businesses to form and prosper Make the best use of the assets the area already possesses (people, world class businesses, FE and HE, the natural environment and quality of life) Achieve sustainable economic growth
Solent LEP – Our Approach to Delivery Solent LEP will be output driven and will deliver improvements in the coordination of private and public investment in transport, housing, skills, regeneration and other areas of sustainable economic development, focusing on: Rebalancing the local economy in favour of the private sector Reindustrialising the economic base, supporting the development of knowledge based industries and high value added manufacturing Regeneration - delivering a coalition between the private, public and voluntary and community sectors to continue the renaissance of the area’s cities and urban areas, tackling deprivation, meeting the skills needs of the economy and taking a leading role in the low carbon revolution.
Solent LEP - Our approach to delivery In the period to 2026 it will capitalise on identified strengths and through collaboration commit to: Creating wealth through business growth Attracting inward investment Driving regeneration of the urban areas Realising the commercial potential of our universities research, knowledge and expertise Promoting and further improving the quality of life and place that the Solent area has to offer Maximising value for money from key public sector investments focusing on areas that are economically vulnerable
Key areas of work Development of a growth hub and strategic sector based clusters Development of the visitor economy Strong focus on employment and skills Realising the potential of our cities and supporting areas that are economically vulnerable
Key areas of work Infrastructure priorities to include consideration of key land assets, transport and housing, flood risk mitigation and reliable high speed broadband Supporting enterprise, new business starts and business survival Establishing a single inward investment and place marketing function Innovation in delivery and funding
Employment and Skills Further investment in skills, is needed to enable higher levels of employment and deliver a more balanced and sustainable pattern of growth to ensure that local residents are equipped to take up The jobs that are created. Developing new ways of reinvigorating cities and areas of deprivation is critical, thereby reducing benefit dependency. Solent LEP will play a role in identifying and driving forward skills development so that economic growth is not held back by skill shortages in the Solent LEP area The Employment and Skills Board (ESB) has been established under PUSH with an independent chairman to deliver joined-up working, comprising seven private sector members drawn from some of the largest employers in the Solent area including Pall Europe UK, BAE Systems, EADS Astrium and De Vere Hotels, together with representatives from the wider public sector.
Employment and Skills – The challenge,GosportHavantIsle of Wight PortsmouthSouthamptonNational Job Density – ratio of jobs to working age population 0.510.640.710.880.750.79 Public sector employee job share 2008 25.914.525.126.322.619.5 % of working age population claiming out of work benefits April – June 2010 10.212.112.611.811.412.0 Number of working age people economically inactive 6,80012,30025,10032,80046,400
Solent LEP Regional Growth Fund– The Solent Gateway Solent Gateway (infrastructure led) -projects that seek to both: unlock economic growth and create private sector jobs; and arrest economic decline in areas reliant on the public sector. 3,155 jobs over the next 2 years
Solent LEP Regional Growth Fund– Solent Futures (1) Solent Futures (sustainable economic growth)– projects that will Support sustainable economic growth through labour market engagement, green technologies and innovation and growth to enable higher levels of employment and deliver a more balanced and sustainable pattern of growth ensuring that local residents are equipped to take up the jobs that are created. The Solent Ocean Energy centre - The project will enhance the UK’s marine current energy capabilities and exploit the Solent’s existing private sector expertise, physical infrastructure and skills base
Solent LEP Regional Growth Fund– Solent Futures (2) The Solent Apprenticeship Training Agency The establishment of an employer-led Apprenticeship Training Agency with a focus on small to medium sized businesses (SMEs), priority sectors in the Solent area and sectors which currently have low proportions of apprentices, providing a flexible demand-led approach to the employment of local apprentices. Led by the ESB – through De Vere Hotels, Astrium, Pall Europe and BAE Systems, with the FE sector and private training providers. The potential to create 600 Apprenticeships, 540 direct jobs over the next three years
Further information and contacts Regular Solent LEP newsletter Solent LEP website: www.solentlep.org.ukwww.solentlep.org.uk Email at: email@example.com@solentlep.org.uk