Introduction David Ralph, HotSW LEP CEO
Hello and welcome to our first newsletter of 2021. Usually at this time I like to look forward to some of the key opportunities of the coming 12 months, but as I write, the overall economic outlook remains extremely uncertain in the short term. Suffice to say, it’s not been an easy start to the New Year, but the LEP is continuing to focus on supporting businesses through the immediate challenges from COVID-19 and Brexit, as well as planning for recovery as we hope to see a brighter future. I am certain recovery will happen – the major unknown is over what timescale, which makes it exceptionally difficult for many businesses to plan effectively.
Whilst it may not have delivered what everyone hoped for, thankfully our exit from the EU ended with a deal. The LEP’s Growth Hub has secured £200,000 to provide advice and guidance to businesses through the next three months. We hope we might want to take advantage of the Government’s £100m Fishing Fund, although we are waiting to see the detail on this.
With lockdown meaning that a lot of us are working or learning from home, tackling mobile connectivity and broadband remains a priority for our area. It’s good news therefore that in the last month, Connecting Devon & Somerset (CDS) – which is supported with funding from our Growth Deal – has announced the appointment of three companies to deliver an £80m roll out of full fibre networks to more than 56,000 rural homes and businesses.
The Government’s Energy White Paper was published just before Christmas, with significant opportunities for Nuclear (including potentially more large new nuclear, Small Modular Reactors and Advanced Nuclear Technologies) as well as Hydrogen. The UKAEA have also launched a siting competition for the first global Fusion Test Reactor together with a Research Centre and Technology Park. The Government have committed over £200M to this project, which will result in many highly paid skilled jobs and new supply chain opportunities. We are supporting a couple of proposed nominations within the South West.
We are now in the final stages of confirming all funding agreements for the Getting Building Fund projects, worth £35.4m, which you can read more about below. These projects all have a key role to play in stimulating economic growth, improving infrastructure and creating jobs.
Last summer, we published our Route Map to Recovery, which set out the broad direction of returning to growth. This was followed in November by the publication of our Local Industrial Strategy (LIS), which recognises the particular challenges our area faces and our approach to invest in and strengthen the economy in the long-term, through clean and inclusive growth. We are currently consulting with partners on our Build Back Better plan, which takes the LIS and sets out in more detail how we will deliver the opportunities and respond to the impact of COVID. You can see all of these plans on our website on the LEP COVID Response page.
Finally, we remain committed to raising the profile of the Great South West. We welcome the G7 Summit being held in our region as it will be an opportunity to champion our ‘Natural powerhouse’ brand, to jointly promote the LEP areas of Cornwall and the Isles of Scilly, Heart of the South West, and Dorset. The Great South West Prospectus sets out priorities to deliver £45bn of economic benefit, create 190,000 new jobs and become the leading region for the green and blue economy, and for tourism. We welcome the Government’s commitment to ‘levelling up’, and we are determined to make sure that the South West is part of this agenda.
The next GSW All Party Parliamentary Group is due to meet early February, with a discussion planned on a GSW Tourism Zone, so I look forward to being able to update on the plans in next month’s newsletter.
David Ralph
Chief Executive
FUNDING AGREEMENTS IN PLACE FOR GETTING BUILDING FUND SHOVEL-READY PROJECTS
HotSW LEP was allocated £35.4m from the Getting Building Fund last summer. Funding agreements are now being signed for projects across the region, with the total funding being used across all 24 projects.
Ilfracombe Watersports Centre (pictured above) is one of the successful projects, receiving £1.5m.
The watersports centre was selected as a suitable project because it is ‘shovel-ready’, will create jobs, support economic recovery across the South West and spending on the project will be complete by March 2022.
ENTERPRISE CENTRE BECOMES NODE AS CONSTRUCTION COMPLETED
Construction of the Enterprise Centre on the outskirts of Barnstaple has now been completed.
The Enterprise Centre at Devon County Council’s Roundswell Enterprise Park development has been formally handed over to TownSq, who will be running the centre on behalf of the County Council. The centre has been designed to offer flexible office accommodation for small and medium size businesses that are looking to grow, and TownSq has a proven track record in supporting the development of vibrant start-up business communities in England and Wales.
The Enterprise Centre, which will be known as Node, has received interest from a number of companies, both local and out of county, enquiring about the office facilities, membership and the funded business support packages.
The scheme has been funded by the European Regional Development Fund, the Heart of the South West Local Enterprise Partnership and Devon County Council, receiving £2.15m from the Growth Deal.
DEVON & SOMERSET HIGH STREETS AWARDED OVER £60M IN GOVT FUNDING
Great news for high streets in Plymouth, Barnstaple, Newton Abbot, Paignton, Taunton and Yeovil, who have all been awarded just under £65m in provisional funding offers from the Government’s Future High Streets Fund to help them recover from the pandemic. The money is designed to kickstart improvements as part of an £830m total package.
The high streets were among 72 successful bids across England. The provisional funds allocated are:
- Plymouth City Centre – £12,046,873
- Barnstaple – £6,548,876
- Newton Abbot – £9,199,364
- Paignton – £13,363,248
- Yeovil – £9,756,897
- Taunton – £13,962,981
ROAD IMPROVEMENTS AT EXETER AIRPORT TO HELP ECONOMIC RECOVERY
Road improvement works have started to create enhanced access at Exeter Airport. The enhancements to Long Lane will unlock development of the new 19 acre AirPark site in the Exeter and East Devon Enterprise Zone.
Valued at £3.7m, the scheme will also facilitate a bus loop and cycleway, substantially improving access to the new Future Skills Centre and the maintenance hangers that have recently been taken over by Exeter Aerospace.
ANOTHER MILESTONE IN UPGRADING OF JUNCTION 25
A multi-million pound project to upgrade Taunton’s M5 J25 has taken a big step forward with the opening of an important new link road serving the town and motorway.
The Nexus link road is the next key stage in the £19.2m improvement of J25, which has received funding through the Heart of the SW Growth Deal. It will deliver significantly increased capacity when completed in the summer.
LEP BOARD BOOSTED WITH FOUR NEW MEMBERS
The HotSW LEP has appointed four new members to its board.
Jane Dumeresque, Paul Coles, Paul Crawford, and Vince Flower replace members who retired after making a significant contribution to the development and achievements of the LEP since its creation.
The new members complement the existing skills and expertise on the board, and support the aspirations of the LEP, which now manages an investment programme of nearly £0.75billion.
FREE GROWTH SUPPORT PROGRAMME CONTINUES FOR LOCAL BUSINESSES
Sole traders, micro-businesses and limited companies based in Devon and Somerset, including Plymouth & Torbay, can register for the Growth Support Programme. The programme continues to offer up to 12 hours of advice and guidance to businesses to help them adapt to new challenges and opportunities, including how to make the most of the potential of digital.
GUIDANCE FOR BUSINESSES POST-BREXIT
Now that the UK has left the EU and the transition period has ended, there are new rules for businesses that do business with the EU. If you’re not sure what you need to do, visit the Heart of the SW Growth Hub’s website for information, webinars and business guides.
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