GBSLEP unveils Strategic Economic Plan update

Posted by lepadmin - March 6, 2014 - Newsroom, Strategy For Growth - No Comments

 Proposals to boost the economy of Greater Birmingham through a programme of projects and interventions starting as soon as next year have been unveiled.

SEP Update coverAll 39 Local Enterprise Partnerships are currently developing Strategic Economic Plans which showcase how they are using existing resources and the new Local Growth Fund to drive economic growth.

The GBSLEP has developed a draft proposal including a long-list of 94 projects seeking support from the Local Growth Fund for 2015-16.

The draft document – titled ‘The SEP to Change Britain’ – sets out how Greater Birmingham will become the leading regional economy, become a net contributor to the Exchequer and help to shift Britain’s trade balance.

In addition to funding for projects, the SEP also asks for a number of freedoms and flexibilities from Government to give local partners the power to have access to have control over levers to drive growth.

Work is currently underway to refine the Strategy Economic Plan and it will be submitted to Government at the end of March and will form the basis of a Growth Deal to be announced in July 2014.

Although still subject to change, among the ambitious proposals included are:

  • The creation of a Greater Birmingham Growth Hub to provide a world-class business support solution which aims to encourage 500 advanced manufacturing businesses to double their growth over four years
  • An Advanced Manufacturing and Recruitment Agency pilot to support 600 traineeships and create 720 new jobs over three years.
  • Measures to capitalise on the arrival of HS2 through the transformation of Birmingham Curzon, including the possible extension of the Birmingham City Centre Enterprise Zone, and the development of UK Central

Steve Hollis, GBSLEP Deputy Chair, said: “It is no secret that resource is tight and the competition for the £1 billion available from the Local Growth Fund will be fierce.

Steve Hollis, Deputy Chair of the GBSLEP.

Steve Hollis, Deputy Chair of the GBSLEP.

“This is why we are placing so much emphasis on our record of delivery, the strategic foundations we have and the strong consensus that has emerged through the wide-ranging consultation during the development of our Strategy for Growth.

“Our ambitious aim is to provide a step change in the export and inward investment performance of a region that is already receiving recognition for its efforts and we believe our offer to Government will be compelling.

“A great deal of work has gone into refining our case to Government and now we are seeking feedback on the broad approach we are taking.”

To download a copy of the Strategic Economic Plan update click here. Comments and feedback can be sent until midday on March 20.