Stoke-on-Trent and Staffordshire stand on the cusp of new economic era says LEP chair
STOKE–ON-TRENT and Staffordshire stand on the cusp of a new economic era, the area’s new business chief has said.
However, David Frost, new chair of the Stoke-on-Trent and Staffordshire Local Enterprise Partnership, said recognition from the Government of its case for economic support would be crucial to helping the area achieve its goal of long-term growth.
Frost, the former director general of the British Chambers of Commerce, said the area had the potential to be one of the most important economies outside London.
Speaking after the submission of the LEP’s Single Local Growth Fund bid to Government, Frost said the organisation was on track to deliver on its commitments to deliver thousands of new jobs for local people.
The former head of the national LEPs Network added that endorsement of the bid and strategic plan by Cities Minister Greg Clark would also boost business confidence across the region.
The LEP has submitted a bid for £780m over a six-year period to 2020. It is seeking £120m in 2015/16 to start work on various strategic projects which would secure leverage of £3.2billion over the delivery period.
“The Single Local Growth Fund bid sets out our ambitious plans to grow our economy by 50% over the next decade and create 50,000 jobs. We know this is achievable based on the hard collaborative work which has already taken place and the unique City Deal we (have) secured,” he said.
“Our strategic plan identifies key strengths such as advanced manufacturing and medical technologies and also focuses on ensuring we have skilled work-ready candidates to meet the needs of business. We will continue to work innovatively in this area as one of just three national skills pilot areas selected by the Government and expect imminent project announcements as part of this.
“As the new Stoke-on-Trent and Staffordshire Enterprise Partnership chairman I am confident we are already in a strong position.”
Frost has also praised the work of his predecessor, Ron Dougan, for laying much of the spadework.
“Securing the city deal and national funding for major infrastructure projects are real achievements for the area on his watch, as are the drive to increase skills development and seeing the number of JSA claimants fall sharply in the region over the last year,” said Frost.
The strategic plan details infrastructure development at key strategic sites at Meaford, the Stoke-on-Trent city centre spine, Keele University Science and Business Park and Etruria Valley. This is in addition to energy generation for business as set out in the Powerhouse Central City Deal bid.
The LEP was recently named in a Financial Times publication as one of the top three partnership areas in the country for attracting inward investment.
