The LLEP has unveiled its strategy for responding to the twin challenges of Covid-19 and EU transition while delivering a decade of economic growth.
The Leicester and Leicestershire Economic Growth Strategy 2021-30 sets out how local strengths, innovation and skills will be harnessed to create a productive, inclusive and sustainable economy for the future.
It describes, in broad terms, the LLEP’s ambitions for its area and how they will inform decision-making over future funding bids and allocation of resources.
The strategy is supported by four pillars:
- Productivity. The LLEP aims to increase the region’s existing output and productivity as it continues to develop a leading science and technology-led economy.
- Innovation. The LLEP will work closely with Leicester and Leicestershire’s three universities and local businesses to build upon the region’s existing strengths in R&D to become a global leader in innovation while simultaneously transferring knowledge to SMEs.
- Inclusivity. The LLEP will create a resilient and adaptive workforce in which all residents have access to skills and career progression while being paid at least the living wage.
- Sustainability. The LLEP will become a leader in zero carbon, with principles of sustainability built into everything it does.
The Economic Growth Strategy 2021-30 was launched at a virtual breakfast introduced by Kevin Harris, Chair of the LLEP Board of Directors.
He was joined by Dr Glenn Athey, Principal Consultant at Cambridge Econometrics, which supported the LLEP to create the strategy and who provided guests with an overview of the insight behind the setting of priorities.
Kevin Harris said: “Leicester and Leicestershire has transformed over the past decade into an innovative, technology-led and knowledge economy. These new and evolving strengths, coupled with existing advantages, will shape the future of the region.
“There currently exist external economic and policy uncertainties, but the LLEP is clear that we need to deliver economic participation and prosperity for all residents, to improve people’s health and ensure a carbon neutral future.
“Our new Economic Growth Strategy sets out our direction of travel through to 2030 and is based on economic analysis, research, strategies and action plans, and, of course, the aspirations and concerns of our partners and stakeholders.”
The Economic Growth Strategy 2021-30 is used to summarise the LLEP’s broad ambitions for Leicester and Leicestershire and will be used as a framework for seeking and allocating funding, as well as making decisions on what to prioritise over the coming years.
The next stage for the LLEP is to work with partners to develop delivery plans and secure resources. This will commence in 2022.
