solent lep strategy update - portsmouth · 2018-04-05 · •the identification of energy and low...

www.solentlep.org.uk

Solent LEP Strategy Update

Stuart BakerSolent Growth Forum

28 March 2018


To be covered

• Economic Impact of the Solent Universities• Economic Impact of the Solent Maritime

Sector• Powering Solent: Heat and Power Strategy

and Action Plan• Strategic Transport Investment Plan• Developing a new Strategic Economic Plan

and Local Industrial Strategy


Solent LEP 2017 at a glance

• £125m Invested in the economy over five years

• 64% Rise in high-growth firms, twice the national average

• 4,900 New homes potentially enabled through completion of

supporting infrastructure

• £10m Dedicated SME investment

• 4,000 Learners supported

•UK Firsts in Research and Innovation


Economic Impact of Solent Maritime Sector

• Co-commissioned report with Maritime UK – cebr


Economic Impact of Solent Maritime Sector

• £77.5bn of goods for export and import moved through the Solent ports of Southampton and Portsmouth• Exceeds the comparable estimate of £74.5bn for Felixstowe

• £42.8bn are exports and 85% of these are moved through Southampton to the UK’s non-EU trading partners. • On this measure, Southampton is the UK’s most important seaport.

• The Solent maritime sector plays a crucial role in the realisation by the manufacturers and distributors of the export goods that it brings to market of at least £20bn in GVA contributions to UK GDP.


Economic Impact of Solent Universities

• Report by Biggar Economics


Powering Solent - Background

• LEPs invited to apply for BEIS funding to develop an energy strategy, or to develop the evidence base for their area.

• The outcomes of this work should include:• a clear analysis of the energy opportunities and challenges; • the identification of energy and low carbon priorities; • an action plan; and funding options to deliver low carbon energy

projects.

• “we will expect local areas in England to consider clean energy and the economy-wide shift to clean growth as important elements in the development and implementation of Local Industrial Strategies.” Industrial Strategy White Paper


Powering Solent: Strategic Priorities


Powering Solent: Next Steps


Ambition “Our ambition is to create a dynamic, vibrant, inclusive and internationally competitive region” - Global destination of choice for marine and maritime (PLACE)

MissionOur mission is to work with partners locally, regionally, nationally and internationally so that by 2040 we will have transformed this key global gateway for marine and maritime and the wider Solent economy: • To become the UK’s most innovative economy, where ideas flourish (IDEAS) ; and • To be the best place to start and grow a business - a seed bed for high growth

businesses (BUSINESS ENVIRONMENT) ; and • Through a major upgrade to infrastructure to support the growth of our key trading

gateways, unlock the potential of our cities and bring forward new land for development – transforming connectivity (INFRASTRUCTURE); and

• Through the delivery of prosperous and sustainable communities across the area by enabling new and affordable housing (PLACE); and

• By securing good jobs and greater earning power, underpinned by high quality education and training for all (PEOPLE).

Solent Economy


Solent SEP - Proposed Approach

• Strategy Now– local approach addressing current

challenges and BREXIT

• Transformational ambition in the long term – Our

vision for the future - ‘A Southern Powerhouse’ / ‘UK Global Gateway’ - responsive to local and global markets

• Underpinned by evidence base and implementation plan• Update the Solent Strategic Transport Investment Plan

• Would like to have a separate interactive workshop with Leaders and Chief Executives – in summer


Local Industrial Strategy

• Focus on specialisation linking sectoral elements and international trade dimension

• Underpinned by an asset base that supports assertions around key strengths

• New ways of working between national and local leaders – an approach that is responsive to local and global market conditions

• A response that will drive wider regional growth

• Focus on clusters of expertise and centres of economic activity

• Technology revolution – given megatrends around demography, nature of work available and logistics revolution (‘same day’ delivery culture)


Discussion Points – The Future and your reflections

• Strategy now vs Transformational Ambition

• Sector strengths / specialisms / Gateway role

• Global destination of choice for marine and maritime investment

• Innovation and global ambition will be at the forefront of our new strategy

• Entrepreneurial and High Growth Businesses are key drivers for growth going forward – Role of the Growth Hub and new business engagement approach

• Developing and retaining global and local skills and talent – Role of careers enterprise funding, the technology revolution, and retraining


Questions?

solent lep strategy update - portsmouth · 2018-04-05 · •the identification of energy and low...

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