Our vision is to “Create a vibrant, attractive and distinctive place with highly skilled people making Leicester and Leicestershire the destination of choice for successful businesses.”
Our aim by 2020, is to:
- Create 45,000 new jobs
- Leverage £2.5bn of private investment
- Increase GVA (Gross Value Added) by £4bn from £19bn to £23bn.
Key Sectors – We identified eight priority sectors that will support the delivery of the aims and objectives of our Strategic Economic Plan (SEP). These are:
- Low Carbon
- Food & Drink Manufacturing
- Creative Industries
- Textile Manufacturing
- Logistics & Distribution
- Professional & Financial Services
- Tourism & Hospitality
- Advanced Manufacturing & Engineering
How do we develop, prioritise, appraise and approve projects for investment
Our process for project development, appraisal and approval is set out in detail in part 2 of our Local Assurance Framework.
The first stage to working with the LLEP on any project is through our Open Call, which allows anyone to submit a project outline at any time, via an Expression of Interest, into our pipeline. The Open Call allows us to understand the upcoming developments across Leicester and Leicestershire, and opens the door to working with any project which could be eligible for funding opportunities that are administered by the LLEP.
There is no guarantee of funding, but for those projects that fit with the aims and objectives of our Strategic Economic Plan (SEP), we’ll work with projects to develop a business case and access available funding opportunities as they may arise.
Appraisal and approval of projects takes place through a number of ‘gateways’ assessing projects on HMT Greenbook five case model, commensurate with the size and value of the projects to ensure proportionality.
All project appraisal and approval involves a wide range of partners, which is representative of the character of the LLEP Board. Partners involved originate from the private, public, educational and voluntary sectors, ensuring that a wide range of interests and views are represented when prioritising and approving projects for investment.
How do we maximise Social Value?
The focus of our work at the LLEP is in creating economic prosperity across Leicester and Leicestershire. As a partnership, we coordinate and collaborate to invest significant resource to help our businesses, our places and our people to thrive. Social Value is a key element of this and it is important that through how we appraise projects for investment, and how we work together as a partnership, we give strong consideration to how we can best utilise the resources available to maximise the Social Value of the work we do.
Our Local Authority partners have lead the way in enacting the provisions of the Public Services Act (Social Value) 2012, and we adhere to the principles they have set down in documents such as the Social Value Charter. We will apply these principles to our procedures and processes ensuring that the requirements are relevant, proportionate and fair; with a view to maximising the Social Value derived from our activities and investments.
We support the social value themes of: Employing locally and responsibly, sourcing locally, supporting and engaging with local communities, improving environmental sustainability; and boing business ethically, and will monitor our contribution to these through our Performance Framework.
Unlocking additional social benefits through the investments we make will help contribute significantly towards making Leicester and Leicestershire a better place to live, work and further develop community confidence and pride.
Equality – The LLEP’s accountable body is Leicester City Council and as such we comply with the policy and procedures in equality and diversity, set out on the City Council website.
Complaints – Any complaints should be directed through Leicester City Council’s complaints procedure.