A minimum of 12,000 new high value jobs and more than 3,000 new businesses will be created over the next decade in the Marches, according to the partnership tasked with revitalising the region’s economy.
The Marches Local Enterprise Partnership has published its ‘Strategy for Growth’, a blueprint for how it will unlock an extra £3.8 billion of wealth in Herefordshire, Shropshire and Telford & Wrekin.
The document, which has been submitted to the Government, sets out the strategic priorities for growth between now and 2020, as well its vision for a ‘connected Marches’.
Chairman of the Marches LEP, Dr Geoffrey Davies, said in the Strategy for Growth: “Our vision is of a connected Marches – where businesses are connected to each other, to Centres of Excellence and research institutions and to a marketplace which reaches far beyond our own borders and that of the UK.
“This strong connectivity will build on the Marches’ position as a national leader in the transfer of skills and innovation in precision technology and engineering across our key business sectors, which include advance manufacturing, food & drink and defence & securities.
“Ideas which changed the world were born here: the Industrial Revolution in the Ironbridge Gorge; the first modern skyscraper, the Flaxmill in Shrewsbury; the modern Olympic movement in Much Wenlock; the Mappa Mundi in Hereford. These big ideas are evidence of the Marches’ pioneering industrial heritage and its entrepreneurial spirit. It has demonstrated its ability to change and adapt to emerging technology and innovation, without losing sight of its rural advantage and the quality of life this offers.”
The Marches region, comprising Herefordshire, Shropshire and Telford & Wrekin, is home to an already unique and diverse business base. At its heart is the global birthplace of industry, supported by strongholds in sectors including agriculture and food and drink; advanced engineering and manufacturing; defence and securities; environmental technologies and services; and a continuing strong visitor economy.
Dr Davies added: “Our region is ripe for investment. We are home to more than 630,000 people and 28,000 businesses, and already we contribute £10 billion to the UK economy –
the foundations are in place but we need to ensure we build upon these in a way that will ensure continued growth and success.”
The LEP also uses the Strategy for Growth to tell the Government it needs to intervene where regulators are stymying growth and to assist the LEP to access funding that has proved difficult to attract to more rural areas of the country.
Identified among the priority areas are the need to better support business through advice that promotes sustainable business growth, and which identifies and supports access to financing streams; enhancing the physical infrastructure of the region to focus on enterprise zones and areas, centres of excellence in key sectors and improvements to essential utilities and telecommunications.
The Strategy for Growth also says a focus on skills enhancement will identify the key areas of work to be delivered in order to raise both employer and employee skills, as well as support young people to gain access to locally available Higher Education courses. Also under the spotlight is a need to capitalise on the close working relationship with UKTI to drive greater inward investment, and maintaining the region’s existing strength in low carbon innovation.
Dr Davies said: “Everyone involved in the Marches LEP is passionate about the potential growth ahead of us. Our mix of world leading names in advanced engineering, manufacturing and the food and drink sectors, mixed with our smaller home-grown and micro-enterprises, positions us well to compete at all levels of business.
“The Marches LEP was launched to create the conditions for economic vitality and sustainable employment. This Strategy for Growth is our commitment to building on the region’s industrial heritage and entrepreneurial spirit, in order to secure economic well-being for the region and everyone living and working within it.”
A delivery plan based on the strategic document is currently being prepared.
