Local Enterprise Growth Initiative (LEGI) - Successful Bid
PR 134
23 February 2006
FOR IMMEDIATE RELEASE
The Great Yarmouth bid,
ENtERprise-GY, for LEGI has been approved by Government Ministers today. One of ten awards nationally, Great Yarmouth will benefit from £8.7m in the period 2006/7 to 2008/9.
LEGI is a new approach with Government backing the best bids with substantial and flexible long term funding. Bids were invited for between five to ten years and further funds will be available subject to spending review.
LEGI is a joint programme between the Office of the Deputy Prime Minister, HM Treasury and the Department for Trade and Industry. LEGI is a neighbourhood renewal programme that aims to increase entrepreneurial activity in the local population; support the growth and reduce the failure rate of locally-owned businesses; and attract appropriate inward investment and franchising – making use of local labour resources.
The bid was produced by a partnership involving members of the Great Yarmouth Economic Forum, part of the Local Strategic Partnership. The bid writing was led by Norfolk & Waveney Enterprise Services, with assistance from Jobcentre Plus, Great Yarmouth College, Norfolk Learning & Skills Council, Business Link for Norfolk and Great Yarmouth Borough Council.
Great efforts were made to engage broadly with both the business community and local people. Through widespread consultation the issues were identified and local solutions to the problems proposed. The key elements of the bid are as follows:
- The creation of a multi-agency enterprise “hub and spoke” to increase entrepreneurship by taking opportunities directly to the people and providing relevant help and assistance.
- The development of focussed business support and inward investment programmes and closer education-business links.
- The development of an enterprise culture with local schools.
- Address basic skills needs in the wider community.
Councillor Barry Stone, Cabinet Member for Development, Property and Regeneration at Great Yarmouth Borough Council, welcomed this announcement as great news.
“We want to transform Great Yarmouth by creating long term sustainable economic activity. The LEGI award will complement the major development projects that are planned, or already underway in Great Yarmouth, which includes the urban regeneration company, 1
st East, which is currently developing its Masterplan for Great Yarmouth and Lowestoft.”
Kevin Horne, Chief Executive of Norfolk & Waveney Enterprise Services (NWES) was delighted at the news.
"This will enable us to transform Great Yarmouth by harnessing the enthusiasm and dynamism of its potential entrepreneurs. NWES is proud to have taken a leading role in this bid, and looks forward to playing a part in its implementation.”
Robin Parkinson, the Principal at Great Yarmouth College, was confident that, “the enterprise education opportunity contained in this bid will enable the people of Great Yarmouth to develop a whole new way of training.”
Chris Hacon who chaired the LEGI steering group was overjoyed at the news.
“Working together in Great Yarmouth is not new, but this is a real example of partnership working at its very best”.
For further information, please contact: Peter Wright
Economic Development Officer
Great Yarmouth Borough Council
Tel: 01493 846522
Fax: 01493 846209
E-mail:
pgw@great-yarmouth.gov.uk
Kevin Horne
Chief Executive
Norfolk & Waveney Enterprise Services
Tel: 07788 717837
Fax: 01493 446501
E-mail:
Kevin.horne@nwes.org.uk
Robin Parkinson
Principal
Great Yarmouth College
Tel: 01493 419216
E-mail:
r.parkinson@gyc.ac.ukNotes to editors:
Great Yarmouth LEGI Partners:
The following partners have contributed to the LEGI bid:
Business Link Norfolk
East of England Development Agency
East of England Energy Group
GO-East
Great Yarmouth College
Great Yarmouth Community Empowerment Network
Great Yarmouth Local Strategic Partnership
Great Yarmouth Teaching & Primary Care Trust
Jobcentre Plus
Local community
Norfolk & Waveney Enterprise Services
Norfolk Business Support Alliance
Norfolk County Council
Norfolk Learning & Skills Council
Private sector
Background information on LEGI
1. The Local Enterprise Growth Initiative (LEGI) was announced in Budget 2005. LEGI will provide flexible, devolved investment in some of our most deprived areas – determined by the neighbourhood renewal fund areas – to support locally developed and owned proposals that pursue new or proven ways of stimulating economic activity and productivity through enterprise development.
2. LEGI will be worth £50 million in 2006-07, rising to £150 million per year by 2008-09, subject to confirmation in the next Spending Review.
3. Not all eligible local areas will necessarily receive financial support from LEGI. Local areas will be selected on the basis of the quality of the proposals submitted – in particular the delivery of positive tangible outcomes for the local area. To effect a significant change in these deprived communities will require a depth of investment that means that the resources cannot be spread too thinly, diluting the impact of the policy.
4. The national level aim of LEGI is:
“To release the productivity and economic potential of our most deprived local areas and their inhabitants through enterprise and investment – thereby boosting local incomes and employment opportunities.”
5. This aim is supported by three national-level outcomes:
a. to increase total entrepreneurial activity among the population in deprived local areas;
b. to support the sustainable growth – and reduce the failure rate – of locally-owned business in deprived areas; and
c. to attract appropriate investment and franchising into deprived areas, making use of local labour resources.
6. These three outcomes reflect the contribution that business start-ups, growth businesses, and inward investors make to both national-level productivity growth and local economic development in deprived areas. To ensure sustainability over the long term, LEGI will be focused on the fundamental issues and barriers that hold back enterprise and growth.
7. LEGI will follow closely the principles of devolution, providing local institutions and communities that are successful in applying for financial support from LEGI – working closely with their Regional Development Agency (RDA) and Government Office (GO) – with the authority and freedom to best determine local needs, options and solutions for enterprise development in deprived areas. Within the three broad outcomes set out above, there will be significant discretion to determine what the local priorities should be and how to tackle them – what indicators to aim for, what actions to pursue, and what local targets are needed.
8. The resources provided by LEGI will be targeted at in-depth interventions in a limited number of local authority areas both with a need (measured by level of deprivation) and potential (business potential inhibited by market failures). The aim of LEGI is to make a long-term change, transforming local deprived areas by addressing the market failures that inhibit growth, ensuring the change is sustainable beyond the life of the policy.
9. Individual local authorities that are successful in applying for LEGI support should expect to receive a significant sum of money – anything between £2-10 million depending on the ‘critical mass’ of resources required in different areas. This funding will be available to these authorities for a significant period of time to support their proposals for enterprise development – illustrating the Government’s significant commitment to reviving these local economies over the long-term.
Issued by:
Karla Symonds
Communications and Diversity Officer
Great Yarmouth Borough Council
01493 846512