The chair of the D2N2 Local Enterprise Partnership (LEP), Elizabeth Fagan CBE, believes that LEPs have important roles to play as new figures show the huge impact Midlands LEPs have made in shaping and delivering the region’s economic future.
LEPs should be central to the delivery of the economic recovery and levelling up. For ten years, Local Enterprise Partnerships (LEPs) have been driving forward inclusive economic growth across the country. They have harnessed the energy and expertise of leaders from 2000 businesses, 180 local authorities and 250 Higher/Further Education organisations.
The new figures show that in the Midlands, LEPs including D2N2 have delivered £4.1 billion of Government investment into the area, unlocking a further £11.1 billion of match funding from private, public and Voluntary, Community and Social Enterprise (VSCE) partners.
Their flexible and agile response to Covid-19, the EU Exit and future skills challenges has been made possible thanks to the unique way we bring public, private, and academic sectors together to create joined-up solutions.
Through locally informed investments, the LEPs have supported the Covid-19 recovery and enabled inclusive and sustainable economic growth. Together, the Midlands LEPs have created over 75,000 jobs to date and are on target to create over 200,000 jobs.
The Midlands is home to over 10 million people and has a £238 billion economy, generating over 12% of the UK’s Gross Value Added. Building on the strengths of their partnerships and Growth Hubs, Midlands LEPs have supported over 135,000 businesses, enabling them to grow and prosper.
Working with schools, colleges, universities, training providers, employers, and career professionals 40, 000 learners have been supported to ensure the Midlands can respond to the future skills needs and that everyone has access to opportunities, no matter their background.
Midlands LEPs have invested over £100 million in research and development to accelerate innovation and support international trade, growth, and productivity. We have worked with universities and businesses to develop innovative products and services to drive global trade, growth and productivity.
More locally, the D2N2 LEP has been driving economic growth, managing nearly £600m of UK and EU public funding, which has unlocked over £1 billion of additional partner funding investment across Derbyshire, Derby, Nottingham and Nottinghamshire.
This has led to the creation of over 16000 jobs, and D2N2 is on target to deliver a further 12800 jobs by 2030.
The D2N2 LEP and the D2N2 Growth Hub have supported over 9,000 SMEs to grow and our high-value sectors to flourish thanks to our business support provision and strategic interventions.
Together with partners, we have invested over £20 million to support and accelerate innovation to drive new technologies with worldwide opportunities. And earlier this year, the LEP co-led the bid to secure the UK’s only in-land Freeport around East Midlands Airport.
From City Deals to Local Growth Deals, trade and investment to skills training and business support, LEPs have put local people and local places at the heart of their work.
Elizabeth Fagan CBE, chair of D2N2 LEP, said: “I am proud of our role as champion of inclusive economic growth. Through collaborating with national, regional, and local partners, we are committed to driving forward productivity, skills development and business support across D2N2.”
“With the government’s ambition to evolve the way it supports local growth and levelling up for the long term, we have a critical role to play in improving the region’s prosperity and driving forwards the government’s ambitions of a green recovery.”