LEP tackling the barriers to business growth
In the first of a series of columns Stewart Towe, chairman of the Black Country Local Enterprise Partnership (LEP) updates businesses about the organisation and its contribution to the area's economic success.
The LEP board is a partnership between business, education and the four Black Country councils, with a remit to tackle barriers to business growth and create a globally competitive local economy. We are helping businesses access finance, developing skills, creating oven ready sites for business use and supporting transport and superfast broadband infrastructure.
LEPs are responsible for the Regional Growth Fund, Growing Places Fund and the EUropean Union Investment Strategy which brings £150m to the Black Country between 2014 and 2020. The LEP is coordinating a Black Country strategic economic plan, currently being refined with project groups currently refining programmes for submission to Government in March 2014.
We recently signed a Black Country City Deal giving us influence over government spending. The City Deal agreed ambitious measures to support high value manufacturing, creating 5,800 new jobs, a further 1,500 apprenticeships and levering £130m private investment to regenerate brownfield sites.
The LEP is responsible for the Black Country Enterprise Zone sites in Darlaston and i54. The Zone's target is to create 6,000 jobs by 2020 primarily in the automotive, advanced manufacturing, aerospace and low carbon sectors. Jaguar Land Rover is investing £500m in its i54 Engine Manufacturing Centre, opening in 2015, creating 1,400 jobs.
We are working closely with the Greater Birmingham LEP on a new Visitor Economy Strategy and a joint shadow Integrated Transport Authority. The Black Country needs a modern transport network to move people and goods easily, connecting to employment locations, Birmingham Airport and freight distribution.
The Black Country Skills Factory addresses skills shortages in High Value Manufacturing. In six months it has supported 26 companiefirms to employ new apprentices and delivered 182 bite-sized training days to 23 companies. The LEP has also secured £10.3m to helpsupport 2,000 16-24 year olds to enter the job market. Since 2012 the LEP has enabled local businesses to access £26.7m funding for projects from £20k to £1 million, creating 2,000 jobs. A funding factsheet provides online guidance. Invest Black Country is attracting investment, promoting supply chains and developing international trade and exports.
The LEP aims to build on our unique competitive assets and ensure more of the products made in the Black Country are sold around the world.
For more information visit www.blackcountrylep.co.uk
