The LEP has a crucial role in coordinating the county’s economic priorities. We aim to focus on opportunities that maximise job creation and growth, and whose benefits reach out to best effect across the county.
The LEP has a strong record on progressing cross-boundary and cross-LEP initiatives. The Board remains alert to cross-boundary opportunities with regional and national partners that enable the LEP to both scale-up and progress key initiatives consistent with the Strategic Economic Plan (SEP) priorities. The LEP also plays an active role in the NP11 Board, the new Council for the North, and has led on two cross boundary Science & Innovation Audit submissions.
Our Strategic Economic Plan sets out our growth ambitions for the next 10 years, with a clear focus on realising the potential of the whole of Lancashire. It provides the framework to our Growth Deal with Government and will direct the resources within our agreed European Structural Investment Fund (ESIF) strategy. The LEP’s SEP was published in 2014 with the aim of closing Lancashire’s economic performance gap with the rest of the country by half while also creating 50,000 higher value jobs. This is a transformational objective for Lancashire to achieve given decades of relative local economic decline combined with long-term public and private under-investment in the area and the wider North. This plan will build on the momentum we have established and create an overarching framework for economic success.
The LEP and its partners are are currently reviewing the evidence which will inform the development of the Local Industrial Strategy (LIS). Given the sound platform established in recent years, the LEP is now able to set out an even more ambitious and detailed long-term plan with a sharper focus on the area’s industrial strengths informed by a deeper understanding on business. Since 2011, we have worked hard to bring forward a range of key priorities, including our Enterprise Zone, City Deal, Boost Business Lancashire and Superfast Lancashire initiatives, which will make a real difference to the economic performance of Lancashire.
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