Today, the Hertfordshire Local Enterprise Partnership (LEP) submitted plans to allocate European Union Structural Investment Funding (EUSIF) of £60m.
Following feedback in September from a wide range of local stakeholders, the LEP has put together a business case to support business growth and promote urban renewal.
Hertfordshire LEP Chair John Gourd said: “We have produced a credible and deliverable plan to drive smart growth in Hertfordshire. Since our formation, our biggest challenge has been to secure the necessary resource to make a difference. The allocation of £60million EU funding to Hertfordshire, including the promise of more to come from Whitehall in 2015, will help us deliver a step change in economic development across the county”.
The plan, which was submitted to government today, will be discussed with government ministers in the coming months and will be available to support economic development projects from 2014 onwards.
John Gourd said: “We will focus our efforts on developing targeted initiatives aimed at promoting science and technology led innovation; helping young people develop to meet the needs of a modern economy through, apprenticeships, work placements and college training; and help our urban centres and market towns become more enterprising.”