July 2010

Leicester and Leicestershire to set the pace

The new era of Local Enterprise Partnerships being ushered in by the Government provides a tremendous opportunity for Leicester and Leicestershire to once again show the way forward.

The existing partnership between the city and county councils, with the district councils, supported by the private sector, is still unique in the UK. Although there are examples of other councils getting together to work on aspects of their local economies, like tourism, no other similar area has joined together to try to make a difference to the economy as a whole.

Our local partnership has five sub groups concentrating on different key sectors of the economy, and an economic development company, Prospect Leicestershire, to help with delivery. The pioneering nature of this arrangement has attracted both national and international attention.

A recent publication by the Organisation for Economic Cooperation and Development (OECD) reviewing different structures for organising local economic development used the Leicester and Leicestershire partnership and Prospect Leicestershire as a case study alongside major world cities like Toronto, Barcelona, New York and Milan.

Guidance from Government suggests Local Enterprise Partnerships should focus on ‘natural' economic areas. Leicester and Leicestershire is such an area. As other parts of the country consider how they can best organise themselves to help their economies, the mature partnership between our local authorities and the private sector is now placed to set another example - in local enterprise partnerships.

Nick Carter, Chairman of Prospect Leicestershire

Loughborough to host UK Corporate Games

The 2011 UK Corporate Games, which will be based at the Loughborough University, will see thousands of competitors flock to the campus for the largest event of its kind in Europe.

The Games are expected to be worth over £3 million to the local economy and are a chance to showcase Loughborough's facilities to some of the largest businesses in the country, including John Lewis Partnership, Jaguar Land Rover, Shop Direct Group, ASDA, Fujitsu, QVC, HSBC and IBM.

The Games are brought to Loughborough by the world's largest corporate multisport festival provider and supported by Leicestershire County Council, Charnwood Borough Council and the university itself.

The event, which takes place next July, is expected to draw athletes in their thousands to the East Midlands.

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BAE welcomes support following closure annoucement

A partnership support group is being assembled following the announcement by BAE Systems that it will close its Radar Road, Leicester, plant by Autumn 2011, with the loss of around 290 jobs. The first jobs are expected to go towards the end of this year.

The partnership support group will be led by Prospect Leicestershire and will also include the Leicestershire Chamber of Commerce, the city council and Jobcentre Plus.

The priority for the partnership group, which will include BAE Systems, will be to put support in place to help the people affected find new employment. Also important will be finding new uses for the site and creating new employment opportunitites in the local economy.

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Building links with China

Prospect Leicestershire has been working to create and build links with Central and Western China to attract long term collaboration and inward investment from one of the world's fastest growing economies.

Business leaders, VIPs and dignitaries from the city and county have welcomed a series of Chinese civic, twinning and trade delegations.

A number of opportunities have been created from the visits, including engagement between the Xindu District of Sichuan and Loughborough University, interest in inward investment from the Xindu district to Leicester and an invitation for Loughborough University to set up a technology centre to promote their technologies to silicon companies in Leshan.

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Loughborough station plans move a step closer

A combined planning application has been submitted for a major revamp to Loughborough train station, including car park improvements and a new hotel. Prospect Leicestershire has been working with Charnwood Borough Council, Leicestershire County Council and Network Rail to improve the gateway to Loughborough.

A funding package is currently being reviewed and should be in place for mid August when the planning application will be determined. Work is due to begin in Autumn this year and to complete during Summer 2010.

Prospect Leicestershire, Two Colton Square, Leicester LE1 1QH
T: 0116 222 3322
info@prospectleicestershire.co.uk 
www.prospectleicestershire.co.uk

ECONOMIC DASHBOARD

·  The number of people claiming Jobseekers' Allowance in Leicestershire has fallen for the second consecutive month.

·  A 5.5% fall demonstrates the biggest monthly fall in almost three years.

·  This decline compares with a fall of 1.4% nationally last month.

·  Source: June 2010 edition of the Unemployment Bulletin

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