Supporting Local Growth Report published

16 Dec 11

In addressing the question of long term economic recovery a year ago, the Government set out its views on promoting strong, sustainable and balanced growth in every part of the country. Today, 16 December 2011, the Supporting Local Growth report has been published and highlights progress following the introduction of Local Enterprise Partnerships (LEPs), Enterprise Zones, a Regional Growth Fund and a Growing Places Fund amongst many new initiatives.

In Hampshire, things have moved on rapidly in 2011 with funding achieved for our two LEPs - Solent LEP (£12m) and Enterprise M3 LEP (£14.4m with a start-up fund of £220,000); alongside HMS Daedalas site at Gosport being designated an Enterprise Zone; and other streams of funding achieved.

Last month, Hampshire Chamber of Commerce was delighted to confirm the award of Regional Growth Funding (RGF) to the sum of £1.2m to Solent LEP and its partner The News which will be vital in helping 50 new start-ups and 50 SMEs with high growth potential in the Solent area via a competitive bidding process expected to start early 2012. This funding is recognition by Government that there are areas within the Solent that need help to free up the barriers preventing a return to economic growth.

An additional £5.5m (RGF) was secured by Southampton City Council with the help of Chamber members that will be used specifically to deliver a positive infrastructural change improving a major inner city route at Platform Road and Dock Gate 4; a vital project to aid both cruise liner traffic and import/export access to Southampton Docks. Chamber members were extremely vocal by providing clear statements on economic benefits that the RGF funded projects would bring with emphasis on both job preservation and job creation.

However, are enough things being done? Does the report really address the key issues for "Business Britain" as we go into 2012? Is your business sited in different locations as well as Hampshire and therefore, are you seeing other areas in the UK doing better or worse in addressing issues and moving forward?

Hampshire Chamber of Commerce would like to hear from you. Please submit your viewpoints to Ian Welland, Head of Area Development: ian.welland@hampshirechamber.co.uk

For a copy of the Report, please click on the first link below

Useful links

http://www.communities.gov.uk/publications/regeneration/2053467

http://www.solentlep.org.uk/

http://www.basingstoke.gov.uk/browse/business/business-support-and-advice/lep.htm

http://www.portsmouth.co.uk/news/local/east-hampshire/gosport_s_hms_daedalus_site_to_become_an_enterprise_zone_1_2969916

http://www.hampshirechamber.co.uk/news/All/1751

http://www.communities.gov.uk/localgovernment/local/localenterprisepartnerships/

http://www.communities.gov.uk/news/localgovernment/2024678