Category: Business growth and finance

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Rural Growth in the North East

Opportunities for economic growth in the rural areas of Northumberland, Tyne and Wear and County Durham will be debated at an event on Friday 1 February at Kirkley Hall, Ponteland which has attracted leading regional names in both private and public sectors as speakers and delegates.

The event is part of the North East LEP’s North East Economic Review, led by Lord Adonis.

Speakers include Lord Don Curry, chairman of NFU Mutual Insurance, Northumberland farmer and member of the North East economic review team, Frances Rowe from the Centre for Rural Economy and Institute for Social Renewal, Richard Baker of RBLS Consulting and Professor Keith Shaw from Northumbria University.

It is being hosted by Northumberland County Council. Councillor Jeff Reid, leader of the County Council and board member of the North East LEP will open the seminar.

Councillor Reid said: ‘This event, which is a key part of the North East LEP’s economic review, is a fantastic opportunity for rural stakeholders to identify new ways to boost the North East economy overall. We are pleased to be hosting over forty delegates including representatives from the business, public and the community sector. Key Government partners will also be in attendance.

“Our focus will be on ensuring this debate helps to get the right messages about rural growth into the final recommendations of the economic review that Lord Adonis will present to the Government.”

Opportunities for growth in the rural economy will be discussed by Frances Rowe, and Richard Baker will explore rural economies in their wider context. Lord Don Curry will give a presentation on the North East independent economic review.

Lord Curry and Edward Twiddy, director of the North East LEP will sum up the morning’s conclusions and set out next steps in the economic review.

The North East LEP commissioned an economic review, led by Lord Adonis, to look at the long term economic growth in the area to 2030. Lord Adonis and the review team will produce a concise report in Spring 2013 setting out five policy recommendations for the North East LEP, five policy recommendations for key LEP partners in the North East, and five policy recommendations for central government.

Further information from Christine Holland, Holland PR & Marketing Ltd. Tel 01670 790246 or 07711 698246.

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The impact of NE land markets and development on economic growth

An event chaired by Lord Don Curry to discuss land markets in the North East LEP area brought together key property professionals in the public and private sectors in January at Durham Town Hall. The debate fed into the North East LEP’s North East Economic Review’s evidence base.

High calibre delegates from business and local authorities aimed to identify the pressures on housing, office, industrial, retail and renewable energy development which impact on viability and deliverability of schemes across Northumberland, County Durham and Tyne and Wear.

The event asked what are the key issues for housing, office, industrial, retail and renewable energy developments now and in the future, and what measures need to be put in place to overcome these.

Delegates also looked at how land markets and developments contribute to economic growth in the North East area and ask where the strategic locations for development should be located across the North East LEP area moving forward?

Lord Curry is a member of the review team of the North East Economic Review, chaired by Lord Adonis. He is chairman of the NFU Mutual Insurance, and was formerly a Defra sustainable food and farming adviser. He also advised Waitrose/John Lewis on food and agriculture issues. He has a 440 acre farm in Northumberland.

Speakers at the day-long event included Philip Barnes, Newcastle Office Leader, NLP and Neil Graham, Head of Economic Assets NE, Homes and Communities Agency. Adam Serfontein, managing director, Hanro Group, Caroline Strugnell, planning manager, Bellway Homes, David Furniss, Head of the Newcastle office of BNP Paribas and Miles Crossley, Business Development Manager, Banks Group will lead sessions during the event.

Professor Henry Overman, a member of the Economic Review’s expert panel of distinguished academics and researchers, will also be speaking at the event. Professor Overman heads economic geography at the London School of Economics and is director of the Spatial Economics Research Centre.

Paul Woolston, chair of the North East LEP said: “This was a key event in our series of seminars which bring together the region’s businesses to provide evidence for the economic review. Developments across the area face challenges of an elongated economic downturn, and this seminar will undoubtedly spark lively debate about the way forward for land markets and development in our area.”

The North East LEP commissioned an economic review, led by Lord Adonis, to look at the long term economic growth in the area to 2030. Lord Adonis and the review team will produce a concise report in Spring 2013 setting out five policy recommendations for the North East LEP, five policy recommendations for key LEP partners in the North East, and five policy recommendations for central government.

The expert panel is reviewing and assessing evidence in six cross cutting themes, framed to meet the strategic objectives of the North East LEP. These are:- the North East in UK, European and global markets, labour markets and skills, infrastructure and land markets, private and social enterprise, capital markets and public policy.

Further information from Christine Holland, Holland PR & Marketing Ltd. Tel 01670 790246 OR 07711 698246.

Home / Business growth and finance / Page 29

North East LEP allocated £30M from regional growth fund

The North East Local Enterprise Partnership has been allocated £30 million from the Regional Growth Fund to develop an infrastructure fund. By targeting those projects with the greatest economic returns the fund aims to create at least 2,300 new jobs over 10 years.

The North East LEP will lever in matched funding from the private sector and bring together other monies under its local control, including the North East LEP’s existing £25m Growing Places Fund, to maximise its ability to unlock strategic infrastructure investments across County Durham, Northumberland and Tyne and Wear.

The North East LEP’s infrastructure fund (NEIF) will be open to private sector and public sector applicants. Decisions will be made according to criteria which will reflect the economic returns from the investment whilst also taking into account the benefits to the least advantaged communities.

Information on how to apply and the criteria against which bids will be assessed will be issued in time for the fund to begin spending in the next financial year. In the meantime the North East LEP’s call for projects to apply to its existing Growing Places Fund remains open until Friday 9th November 2012.

The success of the bid reflects the joint working of all the local authorities with the North East LEP team during an intense bid-writing period in early June, supported pro bono by PwC’s local and national teams.

This joint and collaborative approach is already paying significant dividends in other areas such as the Enterprise Zone, and the LEP Board remains committed to strengthening the relationships that underpin this success.

Speaking about the success of the RGF bid Paul Woolston, chair of the North East LEP said: “Timely and targeted infrastructure development is at the heart of a thriving, outward looking regional economy. The RGF support for NELEP’s infrastructure fund recognises that private and public investment is critical to realise opportunities in the area.

“The fund will create more than 2,333 new jobs in the North East over its lifetime and bring £30m of immediate investment into the region. NELEP’s investment panel will welcome applications from private and public partners and offer a mix of grant where necessary but predominantly will be focusing on extending the scope and term of its loan funding.”

Cllr Simon Henig, deputy chair of the North East LEP said: “The infrastructure fund will shape future investment in the region’s key sectors, helping us to grow our international presence in offshore, automotive, digital, professional and business areas.

“Public and private sectors will benefit from the wide-ranging remit of this fund. It will help to drive the economy not only of this area, but of the UK. I’m delighted that through strong joint working the LEP will be supporting even more investment to boost jobs and growth.”

Further information from Christine Holland, Holland PR & Marketing Ltd. Tel 01670 790246 or 07711 698246.