LEP outlines plans to treble job growth
The public-private partnership responsible for boosting local economic growth has published draft plans to more than treble the rate of new jobs created over the next decade.
The Local Enterprise Partnership’s (LEP) Growth Plan has set an ambitious target of creating 70,000 new jobs in the Sheffield City Region by 2023.
The LEP’s Growth Plan focuses on what the Sheffield City Region needs to do to create growth in the private sector, and sets out a vision for a “stronger and bigger private sector that can compete in global and national markets.”
The LEP will submit the draft Growth Plan to Government in December 2013. Through the Growth Plan, the Sheffield City Region will compete with other UK areas for powers and funding to be handed down by Whitehall.
The LEP’s goal of creating 70,000 jobs is more than treble the current number forecast by economists which have been analysing the economy in the Sheffield City Region. Consultant economists at Ekosgen, IPPR North and Oxford Economics examined growth rates in the Sheffield City Region and believe that the area is currently on course to create only 20,000 jobs in the next decade. The LEP believes that this is not enough and that significant action is required to treble this number.
LEP Chairman James Newman said:
“This important plan sets out plans to transform the Sheffield City Region economy.
“The plan will ask Government to hand over the powers and funds to enable the Sheffield City Region to make improvements to education, housing, transport and to create more and better jobs for the Sheffield City Region’s 1.8 million residents.
“The Sheffield City Region must face up to the overarching and pressing need for a stronger private sector in the Sheffield City Region.
“To achieve this, we must do more to attract investors to do business here, to increase our exports, to support high growth businesses to realise their growth potential and to provide businesses with the conditions they need to prosper.”
Barnsley Chief Executive Diana Terris is joint-Chair of the LEP Growth Plan Steering Group. Diana said:
“Through our Growth Plan, the Sheffield City Region will ask Government to give us the powers and funds we need to compete in global and national markets.
“Both the public and private sectors have identified what is needed to accelerate economic growth and create new jobs, and the Growth Plan outlines our shared vision.”
The Growth Plan is one of a number of key documents which the LEP will submit to Government on 19 December 2013 in draft form. The supporting documents, which are currently being developed, will provide further details on implementation and delivery.