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St. Ives Truro Penzance Helston Camborne, Redruth St. Austell Saltash Launceston Liskeard Bodmin St. Marys Bude Falmouth Newquay. December 2011 January 2012

St. Ives – Truro – Penzance – Helston – Camborne, Redruth – St. Austell – Saltash Launceston – Liskeard – Bodmin – St. Marys – Bude – Falmouth – Newquay

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St. Ives – Truro – Penzance – Helston – Camborne, Redruth – St. Austell – Saltash Launceston – Liskeard – Bodmin – St. Marys – Bude – Falmouth – Newquay.

December 2011 • January 2012

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

Today

1. Welcome and objectives of today

• For you to understand our LEP

• For us to understand your priorities and challenges as businesses

• To help us identify our key priorities

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

Cornwall’s Economic Assets

• Great Heritage• Great Image and reputation

– Numerous awards

• Inspirational Firms • Above average growth in last ten years• Great assets

– Sea– Geography– Minerals– Farming and Food– People

Cornwall’s Economic Challenges

• Small but growing economy

• Very high self employment

• Drop in VAT registered businesses

• Youth unemployment

• Low full time annual earnings

• Higher level qualifications below national average

• Population change sustains pressure on housing

• Exploiting Superfast Broadband

• Balance between– Protecting key industries

(e.g. tourism, agriculture, marine) – Building above average growth areas

Isles of Scilly

Economic Assets

– Stunning environment– The Isles of Scilly brand– Niche tourism market– High knowledge base– Horticulture industry

Economic Challenges

– Mono-economy– Transport and I.T links– Economic cost of isolation– Housing– Infrastructure– Skills– Low wages

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

What is a LEP? – National Context

• Government new approach – LEP’s at heart• White paper ‘Realising every place’s potential’• Not prescriptive …

Vision: ‘…provide the knowledge and strategic leadership needed to drive sustainable private sector growth and job creation in their areas depending upon local priorities’

• 38 LEPs across England – need to determine those priorities

What is the LEP?

It’s about…• shifting power to the local community and businesses• encouraging and empowering enterprise• focusing on a few things• unblocking barriers

…determining priorities!

What is the LEP?

It aims to…• Create more jobs

• Improve skills

• Help overcome barriers to business growth

• Attract more private and public sector funds

• Create infrastructure to help business thrive

• Create a ‘can do’ enterprise culture

• Protect the value of our environment

• Seize the opportunities presented by superfast broadband and the global marketplace

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

Who are we?

The Board• Six appointed business members

Chris Pomfret, Gaynor Coley, Chris Loughlin, Richard Reed, Joe Keohane, Simon Tregoning

• Five nominated Public sector/academic membersAlec Robertson, Chris Ridgers, Anne Carlisle, Philip Hygate, Robin Teverson

• Two support staffMel Richardson and Debbie Osborne

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

Values

• Openness and transparency

• Evidence – based

• Independent but consultative

• Put all of Cornwall and Isles of Scilly first – not parochial

• Non-bureaucratic

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

Governance and Communication

Central Government

LEP Board Councils x2

Coordination

Other LEPs

Implementation AgenciesContracts, money, targets, plans

Targeted Actions

ConsulationLocal Economy Stakeholders

Incl. Public, private andvoluntary sector bodies and

consultative bodies

Strategy

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

Progress So Far

• Start Up Fund Bid – £74K Capacity Fund Bid – £28K per year for 3 years

• Enterprise Zone Bid – Newquay Aerohub– 700+ plus jobs in aerospace sector by 2015– Tax breaks for up to 5 years– Simpler planning via a Local Development Order

• Regional Growth Funding:– £13 million, total project cost £43 million– Infrastructure investment – Grants for business and social enterprises

• Growing places award– £4.2 million

• Initial development of Transport Strategy and Skills and Education priorities

• Support for other initiatives

LEP Strategy & Business Plan

• LEP 5 year Strategy and Business Plan

• ‘Not another strategy’

• Consultants ‘SQW’ appointed

• Consultation key part:

– December/January road-shows

– Website

• Final document and launch Spring 2012

Delivered ByExternal contractors, CDC, Council, Private Organisations, Academic institutions

Strategy Development

Sectors

LEP Board

SME Support Finance Skills Training Education Infrastructure

Manufacturing Tourism Marine RenewableEnergy

CreativeIndustries

OtherSectors

Enablers

Agenda

1. Welcome and objectives of today2. The Cornwall and IOS LEP

The Economies – Assets and ChallengesWhat is a LEP?Who is our LEP?ValuesGovernance & Communication

– Business Community– Wider Community– Other LEPs– The Councils

Progress So FarStrategic DevelopmentThe Future

3. Tell usYour Priorities and ChallengesQuestions and Answers

4. End

The Future for the Cornwall and IOS LEP

• To drive economic strategy through a business perspective

• To champion a small number of initiatives

• To seek funds where appropriate

• To challenge government and local government (transport, planning, bureaucracy)

• To support significant economic initiatives from the private sector and strategically relevant funding initiatives

• To facilitate (employment and skills, mentoring)

• To communicate with the business community

What will be success?

• Continued economic growth

• Belief and realising the potential

• No grant dependency

• Realistic challenger and supporter to Councils

Success will be when we are inundatedwith lots of ideas and opportunities for growth rather than “what money have you got to give me”.

Cornwall and Isles of Scilly Local Enterprise Partnership

PO BOX 723, TRURO TR1 9GH

[email protected]