How do we maximise Social Value in our investments?
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 Leicester City Council 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 doing 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.