Transcript Solent LEP presentation

Solent Local Enterprise Partnership
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
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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
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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:
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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
,
Gosport
Havant
Isle of
Wight
Portsmouth
Southampton
National
Job Density –
ratio of jobs to
working age
population
0.51
0.64
0.71
0.88
0.75
0.79
Public sector
employee job
share 2008
25.9
14.5
25.1
26.3
22.6
19.5
% of working
age
population
claiming out
of work
benefits April
– June 2010
10.2
12.1
12.6
11.8
11.4
12.0
Number of
working age
people
economically
inactive
6,800
12,300
25,100
32,800
46,400
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.uk
• Email at: [email protected]