LEP sets out plans to transform economy

18th December 2013

This week, the public-private partnership responsible for boosting local economic growth will submit plans to Government to transform the City Region's economy by growing business over the next decade.

On Thursday 19 December, the Local Enterprise Partnership (LEP) will submit plans to Government which will ask for more power and control over how money is spent in the Sheffield City Region. The LEP's Growth Plan has set an ambitious target of creating 70,000 new jobs in the Sheffield City Region by 2023 and £3 billion of additional economic output. The LEP's plan includes: A new initiative called the 'Top 1000' which will focus on giving intensive support to the local businesses with the highest potential for economic growth A 'Skills Bank' to enable businesses to access a range of training and skills options, making it easier to take on an apprentices and graduates Incentives and promotional activity to attract 20,000 new jobs to the City Region from the UK and overseas An ultramodern public transport system to connect urban centres and key development areas A bold housing plan which will see the Sheffield City Region control funds to unlock key housing sites. The LEP's plan marks the start of a negotiation process with Government over powers and funding to be devolved from Whitehall. In early 2014, the Growth Plan will form the basis for series of public consultations with businesses and residents. LEP Chairman James Newman said: -This important plan sets out plans to transform the Sheffield City Region economy. -The plan will ask Government to hand over the powers and funds to enable the Sheffield City Region to make improvements to skills, housing, transport and to create more and better jobs for the Sheffield City Region's 1.8 million residents. -The Sheffield City Region is aiming to develop a stronger private sector. To achieve this, we must do more to attract investors to do business here, to increase our exports, to support high growth businesses to realise growth potential, and to compete on the international stage. Barnsley Chief Executive Diana Terris is joint-Chair of the LEP Growth Plan Steering Group. Diana said: -Through our Growth Plan, the Sheffield City Region will ask Government to give us the powers and funds we need to compete in global and national markets. -Our Growth Plan will ensure that the benefits can be felt by all part of the Sheffield City Region, both urban and rural. -Both the public and private sectors have identified what is needed to accelerate economic growth and create new jobs, and the Growth Plan outlines our shared vision. The Growth Plan is one of two key documents which the LEP will submit to Government on 19 December 2013 in draft form. The supporting Implementation Plan document will provide further details on how the Growth Plan's objectives will be achieved.