Hertfordshire ‘key to unlocking UK growth’

Businesses and local authority leaders showcased to MPs and the Government how Hertfordshire is an economic powerhouse driving UK growth and productivity – and how it could achieve even more with the right support.

Over 120 senior representatives from central and local government, key sector industries, small businesses, education and the voluntary sector from across Hertfordshire attended the House of Commons reception on Thursday, 6 February.

The event, organised by the Hertfordshire Growth Board, aimed to demonstrate to the county’s 12 MPs and Government ministers how Hertfordshire is already delivering on the UK’s growth agenda through its shared Vision and Missions.

However, in order to realise the county’s potential, delegates heard that the Government would need to remove barriers to growth by cutting red tape, boosting investment and plugging an estimated infrastructure funding gap of at least £14bn to support local growth plans up to 2050.

The Hertfordshire Growth Board comprises the 10 district and borough councils, the County Council, business leaders, the NHS Integrated Care Board (ICB), Homes England, the Police and Crime Commissioner (PCC), and the University of Hertfordshire.

Attendees heard about the significant progress Hertfordshire Growth Board is making against its Vision and six Missions, including:

• A local economy generating £46 billion net per year – larger than many cities and combined local authority areas.
• Globally significant businesses creating high-value jobs and fast-tracking innovation across key sectors.
• A commitment to delivering 100,000 high-quality, sustainable homes that foster safe and healthy communities.
• Enhancing high-speed connectivity and developing a more integrated, low-carbon transport system.
• Championing green growth and promoting biodiversity and nature recovery.

Kevin Bonavia, MP for Stevenage and event host, said: “I was very proud to host the Hertfordshire Growth Board Westminster reception. The central driving mission of this new Government’s agenda is clear: Growth, growth, growth. This is not just to turbocharge our economy for its own sake, but to unlock the funds needed to rebuild our public services, foster an environment where workers and businesses thrive together, alleviate the cost of living crisis, and generate well-paid, skilled jobs in future sectors.

“Hertfordshire is critical to UK growth, with national and international contributions to sectors such as life sciences, space, defence, media, arts, and more. My fellow Hertfordshire MPs and I, along with the board, business leaders, SMEs, councils, and communities, are committed to unleashing the ambitions and aspirations of our county.”

Cllr Jeremy Newmark, Leader of Hertsmere Borough Council and Chair of Hertfordshire Growth Board, stressed the importance of collaboration between Hertfordshire MPs, the Growth Board, and businesses to unlock further investment. He said: “We are already making strong progress, but today we are calling upon the Government to partner with us to boost Hertfordshire’s growth even further and help us deliver our ambitious agenda. We are asking them to provide the long-term funding certainty needed to drive things forward whilst also strengthening our places, people and communities.”

Mayor Peter Taylor, Elected Mayor of Watford and Vice Chair of Hertfordshire Growth Board, said: “Hertfordshire is improving the speed and scale of housing delivery with two new Garden Towns on track to build 10,000 new homes each. The Herts IQ enterprise zone also offers tremendous opportunities to incentivise green investment and accelerate delivery using offsite construction. While there is much to celebrate without addressing the chronic underinvestment in infrastructure, Hertfordshire and the rest of the UK will lag behind.”

Cllr Richard Roberts, Leader of Hertfordshire County Council, said: “Hertfordshire is the county of opportunity and our world-leading sectors are key to unlocking UK growth. In order to create the optimum environment for our business and communities to thrive, we need to draw down on much-needed investment and cut needless red tape that could hamper our progress.”

Daisy Cooper, MP for St Albans and Deputy Leader, Liberal Democrats, said: “Hertfordshire is primed to be an even bigger engine of economic growth, especially as our county is a leader in the life sciences and creative industries. But having thriving high streets is also vitally important as a primary driver of building strong and inclusive local economies, and the government need to re-double their efforts to unleash the growth potential of our small businesses and high streets, in Hertfordshire and beyond.”

Delegates also heard from key sector businesses about why Hertfordshire remains such an attractive investment proposition.

Caroline Cooper, Chief Operating Officer, Sky Studios, said: “Home to Sky Studios Elstree, Hertfordshire provides fantastic opportunities for businesses s like Sky to invest and support the growth of the UK’s creative industries. Most recently, our sister company NBC Universal filmed both parts of Wicked on site at Sky Studios Elstree, and we look forward to further international investment in the UK’s production landscape. We’re proud of the hub of film and TV production sites that have grown in the area, and are eager to continue to boost the UK’s creative economy.”

Ellie Junod, Global Real Assets Investment Manager, UBS Asset Management, said: “As a key hub in Hertfordshire, Stevenage has a unique opportunity to position itself as leader for Cell & Gene Therapy, not just on a national but an international basis. Working closely with local partners our investment into Stevenage, and the wider Hertfordshire area, will help catalyse this future growth.”