spent locally every year. By 2030 this rises to 9,000 learners and £8.5m local spending every year. 484 apprentices had started their placements at the end of 2020, likely to increase productivity in the area by around £3.8m every year. By 2030 this increases to over 1,360, who will have the potential to increase productivity by £9.5m a year. - Business: Investment in business growth and expansion created increased floorspace to accommodate around 3,500 more employees in 2020. By 2030 this is set to increase to nearly 4,000. £5m of private sector funding was invested in research and development as a result of the LGF projects in 2020, and is expected to rise to £26m by 2030.
Here are just a few examples of the 55 projects funded: - People and skills: £37m - Education and training has been a key focus for the LGF fund, with SEMLEP investing in the construction of Moulton College’s Food and Drink Innovation Centre in Northampton, the relaunch of Tresham College’s Wellingborough campus and new MK:U pilot Degree Apprenticeship programmes being developed by Cranfi eld University. Other skills projects included Bedford College’s Advanced Engineering facility, a new state of the art Engineering and Construction Skills Centre in Leighton Buzzard and several projects at Northampton College – a new campus in Daventry, a new Digital Academy, and a state-of- the-art Advanced Construction Engineering (ACE)
Centre at its Booth Lane Campus. - Places and regeneration: £139 million* - T e Vulcan Works in Northampton town centre was a largely derelict building, now transformed into a business and learning space for creative industries. In Luton, the Hat District has also been transformed, with its three historic buildings transformed into spaces for creative and digital entrepreneurs, emerging talent and established businesses. A major road project was the dualling of the A421 between Junction 13 of the M1 and Milton Keynes. - Business innovation: £57m - In Charwelton near Daventry, Catesby Aerodynamic Research Facility is turning a former 1.7-mile railway tunnel into a fully controllable vehicle testing facility, while at Millbrook in Bedfordshire, a new 4WD heavy duty vehicle emissions facility will test buses, trucks and off -highway vehicles for emissions, fuel and lubricant performance and climatic performance. In Raunds, Northamptonshire, the new Enterprise Centre: East Northants now off ers business units of all sizes to nurture start-ups and business growth. T e centre opened mid-lockdown, creating more than 60 new jobs and supporting 20 new business start-ups. T e centre is now an Economic Recovery Hub for North Northamptonshire Council.
I’m immensely proud of the programme. It’s taken a lot of hard work from the projects and the SEMLEP team, but I cannot put into words the pride I feel at seeing visions turn into reality. Over the coming years, I look forward to seeing these projects continue to benefi t our economy, communities, places and businesses.
For a full list of SEMLEP’s Local Growth Fund projects and to view the Local Growth Fund Evaluation summary and full document, visit:
www.semlep.com/local-growth-fund/ -
*thematic analysis excludes the DfT retained M1 A6 project and therefore does not align with the 265 total
ALL THINGS BUSINESS
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