The impact of the Leicester and Leicestershire Enterprise Partnership (LLEP) over the last 13 years was celebrated during an event at the National Space Centre.
The business-led strategic development body helped to bring almost £860 million of investment into Leicester and Leicestershire between 2011 and 2024.
The LLEP worked with partners and government on more than 360 projects after being established 13 years ago to drive forward regeneration and growth in the local economy.
Audience members at the celebration event last night heard that current LLEP functions will be transferred to the control of Leicester City Council and Leicestershire County Council from April 1.
A LLEP Transition Board has brought various stakeholders together over recent months in order to ensure a smooth handover. The final Board Meeting of the LLEP took place before the celebration event yesterday.
Over the last 13 years, the LLEP helped to create economic prosperity through measures including:
overseeing the introduction of Enterprise Zones
creating and safeguarding more than 7,400 jobs
leading the Business Gateway Growth Hub, Careers Hub, and other major programmes
supporting the building of thousands of new homes
helping to construct more than 260,000 square metres of commercial floorspace.
A total of 58 Directors - including five Chairs - have worked alongside officers, partners, and volunteers in delivering the LLEP vision over the last 13 years.
LLEP Co-Chair Andy Reed OBE said: “Their insight, networks, and focus have enriched decision-making, and brought new perspectives into the business of regional regeneration.
“LEPs were formed as business-led partnerships, bringing together the private sector, local authorities, and academic and voluntary institutions.
“Together we have honed strategy, expanded goals, and transformed our region.”
LLEP Board members were informed early last year that the Government was to cease central funding for LEPs from 1 April 2024. Government guidance is for decision-making to instead be the responsibility of upper tier local authorities.
In the LLEP’s case these are Leicester City Council and Leicestershire County Council.
LLEP Chief Executive Phoebe Dawson last night updated guests on conversations that have been taking place with local partners on alternative arrangements.
The two local authorities hope to retain current LLEP functions, such as the Growth Hub and the Careers Hub.
The City and County Councils are also proposing the establishment of a Business Board to provide advice to assist decision making. The proposal is to invite representatives of local business, and local and regional business organisations, to serve on the Board.
The Councils also intend to invite interest from the seven Leicestershire district councils, university sector, further education, and the voluntary sector. The Councils' wish to see the Business Board chaired by a private sector business representative.
The existing LEP model was created to develop business-led partnerships, bringing together the private sector, local authorities, and academic and voluntary institutions.
Monday’s event at the National Space Centre heard the idea for LEPs was first raised by the Coalition Government in 2010 as a replacement for Regional Development Agencies.
The LLEP formed in May 2011 and, until this month, has served as a strategic body for driving forward regeneration and growth of the local economy.