Business Summit 1 - Hereford Enterprise Zone


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Presentation by Ray Stone about the Herefordshire Enterprise Zone.

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Business Summit 1 - Hereford Enterprise Zone

  1. 1. The Hereford Enterprise Zone Rotherwas For the Marches LEP
  2. 2. The Hereford Triangle Invest Work Here ford Here ford Live Here ford
  3. 3. An Overview <ul><li>The Hereford Enterprise Zone is the Keystone in the renewal of Herefordshire and it’s neighbouring counties </li></ul><ul><li>Radical improvement in communications - physical and high speed internet routes </li></ul><ul><li>New housing projected to be in excess of 6,000 units </li></ul><ul><li>Further development of Higher Education opportunities </li></ul><ul><li>Improved quality of employment prospects </li></ul><ul><li>Rebalancing of the regions demography </li></ul>
  4. 4. Business Case for Enterprise Zone <ul><li>Will become a catalyst for enhanced economic growth in the Marches </li></ul><ul><li>Perfect timing with site being available, but not yet developed </li></ul><ul><li>Demand established – other quality local sites fully occupied </li></ul><ul><li>The geographic position and local specialism has created a niche potential for Defence and Security focussed business. </li></ul><ul><li>Defence forms strong linkages to other counties throughout the LEP & neighbouring areas – Bristol, Cheltenham, Brecon Beacons </li></ul><ul><li>Manufacturing forms a high proportion of the Marches economic base </li></ul><ul><li>This Enterprise Zone represents the biggest development opportunity for the area since the Second World War. </li></ul>
  5. 5. Bidding Process Timescale <ul><li>Idea initially launched by Government in March Budget. </li></ul><ul><li>Expression of Interest was submitted by the Marches LEP at the end of April. </li></ul><ul><li>Internal competition within Marches LEP to determine best Marches site to submit to government. Decision to choose Hereford made by LEP Board at end May. </li></ul><ul><li>Development of Hereford proposal and final submission at end of June. </li></ul><ul><li>Government announced successful Zones in mid August. </li></ul>
  6. 6. Government Criteria <ul><li>Sites of between 50 and 150 hectares (120 and 360 acres). </li></ul><ul><li>Ideally in one single ownership or partnerships with history of joint working. </li></ul><ul><li>Should principally be “clean” sites. </li></ul><ul><li>Be capable of delivery in short term (March 2012). </li></ul><ul><li>Have support of Local Enterprise Partnership and local business community. </li></ul>
  7. 7. Hereford Site Summary <ul><li>61.5ha (164 acres) site: Biggest development opportunity since Second World War in Herefordshire </li></ul><ul><li>Recent preparatory investment of £21m. </li></ul><ul><li>Estimates that will bring in 270 businesses and generate 6500 jobs by 2020 (1800 jobs by 2015) </li></ul><ul><li>Difference to other EZ’s is linkage to the Defence, Security and Intelligence sectors. Supported by high tech manufacturing. </li></ul><ul><li>Only two landowners involved – both fully engaged in the EZ proposal. </li></ul><ul><li>Series of 3 distinct, but linked, development sites/phases </li></ul><ul><li>Within current Planning Policy and emerging LDF policies, has some outline planning consents in place </li></ul><ul><li>EZ will provide benefit across the Marches region via ‘satellite’ Business Parks and funding to support high growth potential companies </li></ul>
  8. 8. Target Sectors <ul><li>Defence </li></ul><ul><li>Security </li></ul><ul><li>High Tech Manufacturing </li></ul><ul><li>Life Science and Bio Tech – Food Security </li></ul><ul><li>Sustainability Technology </li></ul><ul><li>Technology Innovation / Demonstration Centre </li></ul><ul><li>Design and Creative </li></ul><ul><li>Niche Electronics </li></ul><ul><li>Software </li></ul>
  9. 9. Inward Investment <ul><li>Key Targets </li></ul><ul><ul><li>Clear Branding – In line with the Herefordshire brand exercise </li></ul></ul><ul><ul><li>Commercial marketing and support package </li></ul></ul><ul><ul><li>Part of wider Herefordshire Inward Investment offer </li></ul></ul><ul><li>Priorities </li></ul><ul><ul><li>Overseas inward investment </li></ul></ul><ul><ul><li>UKTI Liaison </li></ul></ul><ul><ul><li>New Company / Start ups </li></ul></ul><ul><ul><li>Expanding Companies </li></ul></ul>
  10. 12. Aerial Photograph One – North and South Magazines North
  11. 13. Aerial Photograph Two – North Magazine (western element) North
  12. 14. Aerial Photograph Three – Chapel Road North
  13. 15. Additional benefits to the community? <ul><li>The Hereford EZ will start to change the demographic profile. </li></ul><ul><li>Retain greater number of college leavers -Increase 25-50 year olds in the local working population </li></ul><ul><li>Increase graduate opportunities in the area </li></ul><ul><li>Increase the tax payer base within the community </li></ul><ul><li>Reduce the average cost of social welfare by having a more balanced demography </li></ul><ul><li>Replicated in ‘Satellite Parks’ across the Marches </li></ul>
  14. 16. Progress to Date <ul><li>Announcement of success in mid August </li></ul><ul><li>Already had circa 25 inquiries for space within Zone </li></ul><ul><li>Met on One to One basis with potential occupiers </li></ul><ul><li>Hosted an Inward Investment visit from United States </li></ul><ul><li>Appointed Chair and Vice Chair </li></ul><ul><li>Held first Board meeting </li></ul><ul><li>Agreed priorities: </li></ul><ul><ul><li>Complete a Masterplan for site </li></ul></ul><ul><ul><li>Define planning and support benefits </li></ul></ul><ul><ul><li>Procure Inward Investment support </li></ul></ul><ul><ul><li>Define eligibility criteria for location on site </li></ul></ul>
  15. 17. Enterprise Zone Board Structure <ul><li>Enterprise Zone Board </li></ul><ul><ul><li>Private sector led with involvement of landowners and LEP partners – Chair and vice Chair from industry </li></ul></ul><ul><ul><li>A subgroup of the Marches Local Enterprise Partnership (LEP) with significant involvement of the Herefordshire Business Board (HBB) </li></ul></ul><ul><ul><li>Tasked with setting the strategy, direction, policy and progress monitoring of the EZ </li></ul></ul><ul><ul><li>Maintenance of key performance criteria and CLG objectives </li></ul></ul><ul><li>Executive Team </li></ul><ul><ul><li>Appointed by the EZ Board to manage the day to day delivery of the EZ </li></ul></ul><ul><ul><li>Dedicated professionals principally employed by Herefordshire Council </li></ul></ul><ul><ul><li>Additional expertise contracted in where necessary </li></ul></ul><ul><ul><li>Marketing, Sales, delivery and site management </li></ul></ul>
  16. 18. Partners <ul><li>The Marches LEP – will have involvement on EZ Board </li></ul><ul><li>The Herefordshire Business Board </li></ul><ul><li>Site Landowners – Herefordshire Council and local Family Trust </li></ul><ul><li>The local business community: </li></ul><ul><ul><li>Individual businesses </li></ul></ul><ul><ul><li>Chamber of Commerce </li></ul></ul><ul><ul><li>Federation of Small Business </li></ul></ul><ul><ul><li>Local landowners and developers </li></ul></ul><ul><li>Government Departments </li></ul><ul><ul><li>BIS (Business, Innovation and Skills) </li></ul></ul><ul><ul><li>DCLG (Department for Communities and Local Government) </li></ul></ul><ul><ul><li>UKTI (UK Trade and Investment) </li></ul></ul>
  17. 19. Any Questions?!