NEP - Annual Report 2014

2014 Annual Report

Going Further, Faster.northamptonshireep.co.uk

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ForewordI am delighted to present Northamptonshire Enterprise Partnership’s (NEP’s) 2014 Annual Report, which outlines the Board’s ambition for Northamptonshire’s economy, together with the progress that we have made in delivering this.

2014 has been a landmark year for NEP, with our Strategic Economic Plan providing the basis for negotiating

£119.5 million of funding for Northamptonshire. This ‘Growth Deal’ with Government also saw Northamptonshire being selected for two national pilots, with NEP helping to develop the model for Enterprise Advisers, as proposed by Lord Young in his “Enterprise for All” report; and identifying how business support services can be made as easily accessible as possible. The outcome from the first phase of the Growth Deal was a strong endorsement of Government’s confidence in NEP’s strategic and delivery capability, and provides an excellent platform to move forward.

However, the Board and I recognise that delivering on the Growth Deal and our wider ambition will only be achieved by working in strong and highly effective partnership with all of our businesses and stakeholders. The Board would therefore like to take this opportunity to thank all of our partners and funders, who have supported NEP to develop and deliver the ambitions in our Strategic Economic Plan and make 2014 the year in which Northamptonshire’s economy really does go further and faster.

John Markham OBEChairman, Northamptonshire Enterprise Partnership

4 Northamptonshire Growth Deal

5 Our Vision

6 Annual Review

10 A Strategy to Go Further, Faster

18 Summary of Annual Accounts 20 Governance Structure

22 Working in Partnership

26 The NEP Team

Contents

Annual Report 201402 03

Board Members

John Markham OBE - Chairman

Brian Binley MP Vice-Chairman

Cllr. Tom Beattie Leader, Corby Borough Council

Sarah Canning Partner - Head of Litigation, Franklins LLP

Jon Corbett Head of Corporate Banking, Barclays

Gerald Couldrake Company Secretary, Howes Percival Solicitors

Pratima Dattani VCSE Representative,Wellingborough Homes

Stephen Davies Principal, Moulton College

Cllr. André Gonzalez De Savage Northamptonshire County Council

Graham Goss Consultant, Haines Watts Chartered Accountants

Cllr. Jim Harker OBE - Leader, Northamptonshire County Council

Chris Hatfield Managing Director, David Wilson Homes

Andrew Langley Managing Director, Juniper Trading

Cllr. Chris Millar Leader, Daventry District Council

Cllr. Steven North Leader, East Northamptonshire Council

Prof. Nick Petford - Vice Chancellor & CEO, University of Northampton

Richard Phillips Managing Director, Silverstone Circuit

Bruce Ray Corporate Affairs Director UK, Carlsberg Group

David Reynolds Chairman, North Northants Development Company

David Rolton Founder, Rolton Group

James Saunders-Watson Head of Investment Trust Marketing, J.P. Morgan

Martin Sutherland Chief Executive, Royal & Derngate

Victoria MilesChief Executive, Northamptonshire Community Foundation

Transformative Growth for Northamptonshire:Growth Deal

Delivering

The plan is rightly ambitious, but importantly realistic and achievable based on Northamptonshire’s impressive track record in recovering from the downturn and demonstrating continued growth, subsequently. The ambition is now to deliver growth a full percentage point over and above the national average. The SEP has been designed around what is unique and special about Northamptonshire’s economy, namely its:

People - one of the fastest growing populations in the country, forming a loyal and committed workforce as demonstrated by our very high levels of employment.Location - literally at the heart of the country, meaning that 75% of the population is within a two hour drive.Assets - our economic offer is based around seven distinctive locations each with a complimentary economic offer, which provides strength and depth to Northamptonshire’s economic base. Northamptonshire is also home to world-class brands including Barclaycard, Carlsberg UK, Weetabix, Silverstone, Yusen, Cosworth, and Mercedes-AMG.Can Do - attitude to growth, importantly underpinned by capable leadership and credible delivery arrangements. Entrepreneurial Culture - with Northamptonshire recognised as the most enterprising place in the UK; and Northampton specifically identified by Experian as the best place to do business. It is easy to see why businesses want to start up, grow and prosper here. SMEs are the lifeblood of our economy, ensuring that Northamptonshire has a broad based and vibrant economy.

It is important that the SEP capitalises on everything that is special about Northamptonshire, delivering growth that is sustainable and benefits all of our businesses, people and communities. The strategy therefore focuses on the priorities that are most relevant to delivering sustainable growth, namely business and innovation, employment and skills, infrastructure and connectivity and housing. It also recognises and builds upon our sectoral strengths in High Performance Technologies, Logistics, Food & Drink, Creative and Cultural Industries alongside financial services, wider manufacturing and professional and technical services. Strong partnership is a key part of Northamptonshire’s success and new governance arrangements are now in place to bring the private sector together with the public sector and wider stakeholders to drive forward economic growth in Northamptonshire. The SEP is also about working with government in real partnership to make sure that Local Growth Funding and European Structural Funds really do deliver results in our area. Our vision is not only about numbers, it is about people and that’s why there is such a focus on employment and skills, and housing as providing people with the right skills, employment and housing is fundamental to a good quality of life. Northamptonshire is perfectly placed to go further, faster with the SEP providing the catalyst to do this - helping our businesses to deliver tens of thousands of new jobs and homes by 2021 and many, many more by 2031.

Our Vision

The Strategic Economic Plan (SEP) outlines a bold ambition for Northamptonshire’s economy, looking to increase the local economy from its current £16 billion to £20 billion in seven years, bringing about unprecedented growth and prosperity for our businesses, people and communities. This level of growth will see an additional 32,500 jobs created, 1,600 new businesses started and 37,000 new houses built, helping meet the current and future housing needs of all of our communities.

Annual Report 2014 northamptonshireep.co.uk04 05


Economic Overview

Annual Review

Northamptonshire has one of the fastest growing populations in the country, with a population of 706,600 in 2013, an increase of almost 200,000 new residents in little over 30 years. 447,400 of Northamptonshire’s population is of working age, making sure that there is a strong supply of employees for Northamptonshire businesses. This translates into high economic activity levels, which currently stand at 82.8% compared to 77.4% nationally; together with lower levels of people receiving Job Seeker Allowance, currently at 2.0%, in comparison with 2.3% nationally.

Northamptonshire benefits from high levels of new business registrations (as a percentage of all active registered companies) at 20.22%, compared with the England average of 19.42% and the LEP comparator group average of 14.79%. The rates of businesses dissolved or going into liquidation at 11.63% is lower than the England and East Midlands rates of 13.24% and 12.06%, respectively. These figures are reflective of a vibrant and active business base, and help to substantiate Northamptonshire’s entrepreneurship credentials.

House prices within Northamptonshire remain more affordable than elsewhere, with the average home costing £144,693 compared with the national average of £172,011. This level of affordability, coupled with an excellent lifestyle offer, will support Northamptonshire to become a destination of choice for housing. Whilst house prices remain affordable, prices are currently increasing at a marginally higher rate (6.8%) than nationally, which is currently 6.4%.

However, there are a number of areas where Northamptonshire’s economic performance could be stronger and NEP will put significant effort into working with partners to address these. Currently, Northamptonshire’s overall GVA is lower than the national average measured by both per head and per employee, and if the overall aspiration for increased GVA is to be met it will be necessary to improve performance on both of these indicators. Skills will be a strong priority as while performance compares well with the East Midlands, there remains a level of under-performance at every level when compared with national performance, with the gap widest at NVQ4 and above. One other key area where performance is less strong is on the number of 18-24 year olds receiving Job Seekers Allowance, which stands at 4.0% compared with the national average of 3.8%. Whilst this has improved by 3.0% over the past twelve months, which is encouraging, it remains persistently higher than the overall register.

Services to Businesses - Performance Highlights

INV-ENT

INV-ENT (Innovation & Enterprise) provides a business rate rebate to small and medium enterprises (SMEs), enabling investment in business development and growth and supporting the creation of new jobs in Northamptonshire.

Since its inception in 2011, NEP and Northamptonshire County Council have invested over £990,000 in 69 business projects through the INV-ENT initiative. This has led to the creation of over 400 new jobs and more than 100 apprenticeships as well as training, which has developed the skills of nearly 600 local employees.

Funding from the INV-ENT programme enabled DTC International to set up and promote a Data Cleansing and Test Lab facility at their Brackley, Northamptonshire premises. This means that services previously subcontracted to businesses outside of the county are now carried out in-house. This safeguarded the future of employees at DTC and led to the creation of a number of new jobs.

DTC International’s business has grown by more than 50 per cent since receiving INV-ENT funding.

LOCATE

LOCATE offers grant funding of up to £20,000 to existing businesses wishing to either relocate or expand their business by moving to Northamptonshire.

Managed by NEP and funded by Northamptonshire County Council, LOCATE is made available to qualifying small and medium enterprises (SMEs). Since its launch in 2013, LOCATE has attracted inward investment enquiries from businesses across the UK and from overseas.

Beneficiaries of the grant so far include record-breaking electric car company, Bluebird Performance Engineering, moving from Coventry to Rockingham in Corby and US-owned Global Composites Recycling Solutions, Inc. (GCRS) which recycles fiberglass and is also moving to Corby. GCRS expects to employ over 250 people by 2017.

Other LOCATE recipients also include Incredible Bakery Company who moved from London to Kettering, UberShop who were previously based in Bedfordshire and are now at Brackmills Industrial Estate and Hendrix Media which has moved from Milton Keynes to Caswell Science & Technology Park.

Northamptonshire Growth HubCelebrating 12 months of effective business support.

Since its launch in November 2013, the Northamptonshire Growth Hub has enabled over 1,000 callers to get easy access to a comprehensive range of business support services, including start-up advice, business planning, skills training and funding opportunities. Endorsed by BIS, the Hub has so far referred 95% of enquiries to an appropriate Service Provider.

A partnership initiative between NEP, Northamptonshire County Council and the University of Northampton, the Growth Hub will receive funding from the Local Growth Fund to ensure it can sustain current services and expand the range of support on offer. NEP is also working with Government to make sure that the Growth Hub provides easy access to national business support services, so that the Growth Hub really is a one-stop shop for businesses in Northamptonshire.


Enterprise Hub

One of NEP’s primary objectives is to support Northamptonshire entrepreneurs in establishing sustainable businesses that create jobs.

Building on what already exists within Northamptonshire and activity currently delivered by NEP, a targeted entrepreneurship support programme is expanding the reach of the Northamptonshire Libraries Enterprise Hub network to cover the whole of Northamptonshire.

The Enterprise Hub provides tailored business support (including pre-start and start-up programmes by a range of providers) to stimulate the creation of new businesses including knowledge based businesses. NEP’s Start-up Coach, a new online business support website portal, enables new and prospective business owners to work through NEP’s business support programme at their own pace.

Hundreds of aspiring business-owners have attended the free workshops to date.

“The workshop sessions were extremely useful - I have been on all of them! They help with everything from considering realistically whether self-employment is the best option to creating a business plan and devising a social media strategy.” Kerry Lease Media

“NEP’s start-up grant has helped my business in the short-term but the big thing was the support given to construct my business plan and from that my sales forecasts.” Clear Vertical

Jobs Brokerage

NEP’s Jobs Brokerage team provide a single point of contact to help employers develop bespoke recruitment solutions and find the best trainees, apprentices and graduates for their business, from across Northamptonshire.

The team promotes vacancies, filters applications and assesses candidates for jobs and apprenticeships prior to interview, and provides further assessment during the selection process. Job brokerage is a cost-free, efficient and effective way for employers to recruit young people into apprenticeships and jobs.

When Northampton’s world-leading manufacturer of quality footwear, Church’s, first contacted the Jobs Brokerage team in 2012, they were looking for support with their campaign to recruit a number of local apprentices keen to develop a long-term career in the shoe industry.

The team set about working with a range of partners including local schools to promote the opportunities available. They delivered information sessions to groups of young people about Church’s the company and its products and screened suitable candidates. A shortlist of applicants was provided to Church’s ahead of an assessment day.

Following the success of the 2012 programme, NEP’s Jobs Brokerage team has subsequently supported Church’s with their apprentice recruitment in 2013 and 2014.

Alongside developing its strategic and investment priorities, NEP has continued to directly deliver a range of products and services that have helped Northamptonshire’s businesses to deliver economic growth and jobs.

Through this work we have directly supported the creation of 1,197 new jobs and 69 business start-ups and levered in £43,769,942 to support local business growth.

NEP is one of the few Local Enterprise Partnerships that provides a direct support service to businesses, covering the full spectrum of support from start-ups through to established and growing companies.

A range of services are provided by NEP, including grant and investment funding through programmes such as LOCATE and INV-ENT, direct business support through the Enterprise Hub, support to inward investors and support for training and recruitment through the Job Brokerage service.

On the back of the successful sector support for the High Performance Technologies’ industry we have attracted an additional £6m of new funding for companies from a combination of Regional Growth Funding and European Regional Development Funding.

In the last year, NEP launched the Northamptonshire Growth Hub (in partnership with the University of Northampton and Northamptonshire County Council) bringing together all of Northamptonshire’s business support services under one umbrella to make things simple for businesses looking for advice and support.

Adjacent are a number of case studies that illustrate our activity and demonstrate the impact in terms of job creation and business growth.

Private sector jobs created and safeguarded

Business start-ups

New company investments

Private sector leverage

Public sector leverage

800 1197.5 149%

50 69 140%

15 31 210%

£ 5,000,000 £43,768,682.50 875%

£ 2,000,000 £1,260,182 63%

Total year targets 2013/14

Full yearactuals

Achievedagainsttarget

High Performance Technologies (HPT) Investment Programme

The HPT Investment Programme offers grants to Northamptonshire businesses within the HPT sector to support business growth and sustainable job creation.

The programme was initially funded through Regional Growth Fund (RGF), with additional funding provided by EMB Ltd. Working in partnership with EMB Ltd further funding was secured through European Regional Development Funding (ERDF) creating a total pot of £2.2m to support HPT businesses in Northamptonshire.

To date, NEP has awarded £1.5m in grants to 38 businesses within Northamptonshire, which will safeguard and create 473 jobs and lever nearly £10m in private sector investment by March 2016.

English Harbour Yachts in Oundle were one of the first beneficiaries of the programme. Director, Alan Bowers, said: “This funding has proven invaluable; it has enabled us to develop a new model and will also assist with the regeneration of the Oundle Marina site. The project has so far led to 12 new jobs with over £300,000 private investment.”

GE Precision Engineering is a specialist engine design group consultancy and prototype low volume manufacturer of engine and chassis components for the automotive and motorsport industry. The company was awarded £50,000 HPT R&D support to continue to develop increased performance and increased energy efficient engines. The investment will support the creation of 15 new jobs by 2015.

Building on the foundations of the HPT Investment Programme, NEP secured £4m of Regional Growth Funding (RGF) to deliver a programme focused on large scale R&D activity. Launched in January 2014, the programme is delivered in partnership with SEMLEP.A target exists of 500 jobs created and £12m private sector leverage by March 2018.

Services to Businesses - Performance Highlights

Business & Innovation

BY 2021 Create a £20 billion economy and deliver 32,500 new jobs

BY 2031 Create 70,000 new jobs

Strategic Imperatives

Improved Innovation

PopulationGrowth

Increasedproductivity

Strategic PriorityTo improve the productivity and competitiveness

of SMEs, through investing in innovation and targeted business support

Delivered by:- Growing our Business Base- Supply Chain Development- Exploiting Our Export Premium- Attracting New Investment

Financed by:- Local Growth Fund- Growing Places Fund- Regional Growth Fund- European Structural and Investment Fund Strategy- Local Public and Private Sector Finance

Major Investment OpportunitiesGrowth Hub, Sector Innovation Fund, INV-ENT, Locate

Northamptonshire


Significant growth in both the number of new businesses and in the productivity of existing businesses is an essential requirement if Northamptonshire’s ambition to grow its overall economy to £20 billion in the next seven years is to be realised.

It is necessary to invest in business start-ups, expansion and to market Northamptonshire as an attractive investment location nationally and globally.

Business start-up is relatively strong across the county’s sectors and Northamptonshire has one of the highest proportions of private sector employment in the UK. However, ongoing and targeted business support to drive forward business growth and innovation in Northamptonshire is a must.

We also need to exploit Northamptonshire’s export premium - export figures show the county experienced a sharp rise from 20.1 million in February 2013 to 43.8 million in February 2014.

In identifying the investment activities to be supported by NEP’s Strategic Economic Plan (SEP), we have built upon the success of the existing programme of support delivered across Northamptonshire by NEP and its partners. This programme will be enhanced to ensure it keeps pace with the changing operating environment.

In delivering future programmes, NEP will also ensure that it continues to take into account the specific issues affecting rural businesses - over half of the population of Northamptonshire live within rural areas - with an overall approach heavily focused on support for SMEs.

The pivotal importance of larger companies within the local economy, given their ability to create local supply chains and support small business development, is clearly recognised also.

What NEP is planning to do:

Internationalisation StrategyNEP will deliver a smarter approach to working internationally. We will build stronger relationships with partners such as UK Trade and Investment and Chamber of Commerce and will look for synergies in established and emerging overseas markets to increase export performance and target more company investment opportunities for Northamptonshire.

Business Support Simplification PilotThe Department for Business Innovation & Skills (BIS) has invited NEP to pilot the rationalisation and simplification of business support within Northamptonshire.

Over £46k of funding has been made available to support this work which will see NEP undertake a comprehensive review of the business support landscape to identify how this can work best for our local businesses.

Silverstone Metrology CentreA multi-million pound high precision measurement facility will be built at Silverstone Business Park to support SMEs in the development of new product ideas and to create four apprenticeships. The new facility will enable the smaller businesses there to access state-of-the-art measuring and testing equipment that might otherwise be too expensive.

This £1m project has been made possible thanks to a £300,000 grant from Government’s Local Growth Fund.

A Strategy to go Further, Faster

Employment & Skills

dBY 2021 Create a £20 billion economy and deliver 32,500 new jobs


ImprovingSkills Levels

PopulationGrowth

Meeting Replacement & Growth Demands

Strategic PriorityImprove the skills available to business,

through delivering high quality education andtraining and expanding the skill base

of the resident workforce.

Delivered by:- Developing Our Future Workforce- Meeting the Current and Future Demands of Business- Developing the Delivery Infrastructure

Financed by:- Local Growth Fund- European Structural and Investment Fund Strategy- Local Public and Private Sector Finance

High JobsDensity

Northamptonshire

Northamptonshire’s ambition is to create an additional 32,500 jobs by 2021 which will require additional employees to meet these opportunities. It is also essential that Northamptonshire’s workforce has the necessary skills and competences to meet the current and future needs of our fast-growing economy, which is why Northamptonshire is serious about skills.

Improving skills performance at every level requires a transformational approach and the necessary infrastructure to create a 21st century learning environment. Concerted efforts have been made to develop this infrastructure with many of the building blocks now in place ahead of the need to address some critical gaps in provision.

Northamptonshire’s Sector Skills Programme includes a focus on

industry specific skills provision, support for apprenticeships and traineeships, employer responsive skills support, intermediate and higher level development for industries driving growth and support for digital and ICT skills at all levels.

Creating a skilled workforce is reliant on addressing all aspects of the education, training and skills system with schools critical to this. Developing education business links are necessary in effectively developing the future workforce. Targeted programmes that respond to the needs of young people and employers which include skills gaps and shortages of basic and transferable skills including team working, literacy, numeracy and communication skills are essential.

Apprenticeships are the major route into employer training. Building on the strong work in the Northamptonshire Apprenticeship Plan there now needs

to be additional work to increase the volume and level of apprenticeships by delivering pre-traineeships provision and delivering more advanced and higher apprenticeships.



Young peopleCreating and developing Northamptonshire’s future skilled workforce is a key priority for NEP and is reliant on addressing all aspects of the education, training and skills system with schools critical to this.

Key to this commitment has been Challenge 2016, which aims to find 2,016 local jobs for young people by 2016. This initiative based on strong partnership working between DWP, Connexions, Northamptonshire County Council and the seven district and borough councils and NEP is already well on track. The latest figures for August 2014 show that youth unemployment in Northamptonshire has now dropped to 2,035 meaning there are now less than half the numbers of young jobseekers in the county compared to 2012.

This demonstrates the focus and commitment of localbusinesses and the wider Northamptonshire partnershipnetwork in maximising opportunities for our youngpeople. Through NEPs Jobs Brokerage Service, we willcontinue to work collaboratively with our partners topromote apprenticeships that meet the current and futuredemands of business.

Enterprise for AllThrough the Growth Deal, NEP will work with government to explore the feasibility of implementing a programme of Enterprise Advisers in line with Lord Young’s recommendation in his review ‘Enterprise for All’.

Tresham Young PeopleThe Growth Deal will invest £11.4m for the construction of Tresham College’s new campus in Wellingborough. This will provide a learning facility for 500 learners as well as an enhanced provision to support ‘Not in Education, Employment or Training’ (NEETs) and the unemployed.

When complete, the new campus will include a Science, Technology, Engineering and Maths centre and will offer subjects including Construction, Engineering and Art & Design.

GET HELPFINDING A JOB.

Northamptonshire’s Jobs Brokerageteam offers one-to-one support foryoung people looking for jobs and workbased training. They helped over 350young people last year.

Could they help you too?Find out morelove-northamptonshire.co.uk

JB Skills Poster V2.indd 1 03/06/2013 11:33


Northamptonshire has one of the fastest growing populations in the UK, exceeding national growth rates by 36 per cent during 2001-2011 and accommodating significant in-migration. This growing population has and will continue to place additional demands for new housing which has been recognised in the Local Plan documents for North Northamptonshire and West Northamptonshire which provide for a combined total of 35,200 new homes over the life of the SEP.

In recognition of the scale of new housing required, a series of Sustainable Urban Extensions (SUEs) were agreed which will deliver over half of the total housing requirement over the plan period.

A sophisticated understanding of the needs of each of the two distinct markets - North Northamptonshire and West Northamptonshire - is important to ensure that communities are open to development, recognising that it meets their needs and those of their families and communities.

The need to meet the demands of both a growing population and changing demand in a market that is still recovering from the economic downturn means that intervention will be necessary to deliver housing at the scale and pace required. This will necessitate close working relationships between all parties to develop shared and creative solutions to deliver the right product at the right time in the right place.

A Housing Strategy Board has therefore been formally constituted within NEP’s governance to reinforce the importance of housing to the overall growth agenda and to take forward the strategic objectives for this priority.


Strategic Housing Action PlanThe Housing Strategy Board is committed to working in partnership to support the delivery of 37,000 new homes by 2021; and importantly making sure that these new homes meet the current and future needs of the people of Northamptonshire, be they a first time buyer, a family looking for move on accommodation or ‘down-sizers’ whose families have now left home.

There is also a need to recognise the impact that Social Care and Welfare Reforms will present for the housing agenda and factor these into housing strategy and delivery.

The housing market remains fragile and as such delivering high quality housing fit for the 21st Century and beyond is a complex business, requiring new and creative solutions alongside the tried and tested.

The Strategic Housing Action Plan will therefore outline how the ambition within existing statutory plans, housing strategies and the Strategic Economic Plan can be turned from ambition into reality.

Stanton Cross£8.9m has been allocated from the Growth Deal for a new road bridge over the Midland Mainline railway which will allow new housing and business developments to the east of Wellingborough.

The £500m Stanton Cross development on land to the east of Wellingborough’s train station will be the largest growth the town has seen since the 1960s. It will include more than 3,000 new homes as well as shops, schools, office space, a town park, community centre and doctor’s surgery. Major improvements to roads and public transport will also take place.

The whole development is expected to take 10-15 years to complete and will create around 100 jobs a year over the construction period, as well as more than 2,000 additional permanent jobs once the project is completed.

Housing

Northamptonshire


Strategic PriorityEnsure that the current and future needs of Northamptonshire’s population are met by

providing the right product, at the right price in the right place

Major Housing SitesCorby North East, Daventry North East,

Kettering East, Northampton North, Rushden East, Stanton Cross, Towcester South

PopulationGrowth 11%above Englandaverage

Addressing Welfareand Social Care Reforms

Lower than averageGVA per head

BY 2031 Deliver 80,000 New Homes BY 2021 Deliver 37,000 New Homes

- Revolving Infrastructure Fund- Local Growth Fund- Local Public and Private Sector Finance- Growing Places Fund

Financed by:Delivered by:- Accelerating Housing Development- Meeting the Housing Needs of the Current and Future Population- Promoting the Economic Case for Increased Housing Supply

Infrastructure & Connectivity

Deliver 37,000 New Homesand 32,500 new jobsBY 2021Deliver 80,000 New Homes

and create 70,000 new jobsBY 2031


Strategic PriorityProvide the necessary infrastructure tofacilitate sustainable economic growth

Financed by:

Housing Demand

Gaps in critical enabling infrastructure

Demand for Market Ready Sites

Limited Move on Space

Northamptonshire

Delivered by:- Transport as an Enabler of Growth- Growth Enabling Finance- Provide a Portfolio of Market Ready Major Investment Sites- Increase Availability of Office Floor Space- Environmental Sustainability and Energy- Create Superfast Northamptonshire - Digital and Communications

- Revolving Infrastructure Fund- Local Growth Fund- Growing Places Fund- European Structural and Investment Fund Strategy- Local Public and Private Sector Finance

The scale of growth potential in Northamptonshire is clear. An immediate pipeline of more than 35,000 homes with planning permission puts us in an unrivalled position in England to deliver high quality, sustainable growth. However, much of this development is constrained by the timely delivery of major infrastructure schemes.

The infrastructure needs are already identified and agreed by partners so development can be delivered quickly. Within the wider infrastructure needs we have taken detailed assessments of the deliverability and impact of schemes and have prioritised those schemes we know can be delivered immediately.

Northamptonshire has already acted to take the initiative and articulate its

agenda for stimulating economic growth. In 2011, the Northamptonshire Arc spatial concept was agreed. This was one of the first approaches of its type in the country which looks at future economic growth, the environment and connectivity.

Through an integrated approach to infrastructure and wider activity it aligns with the six key principles of the ‘smart city’ approach, namely a smart economy, smart mobility, a smart environment, smart people, smart living and smart governance.

As part of the process of developing the SEP we have worked with local partners to identify the key infrastructure investments necessary in the medium and long term to deliver our vision for growth. This work builds on the significant planning and pre-scheme

development already undertaken by partners, especially both planning units and Northamptonshire County Council in its capacity as the Highways Authority.



Public Works Loans Board Government has made up to £50m available to Northamptonshire in 2015/16 from preferential borrowings through the Public Works Loan Board. This money will be used to support strategic infrastructure investment which forms part of the overall Growth Deal package.

A45£14m Growth Deal monies will be invested in the A45 Northampton to Daventry link road which will bring significant environmental improvements for Flore, Weedon and Upper Heyford and allow the development of housing and employment sites.

A43£8.9m from the Growth Deal will be spent on improvements to the A43 in Northampton including extra lanes, improved public transport and roundabout improvements allowing new housing and business sites to be developed.

Superfast Broadband£2m will be invested to extend the final 10 per cent of premises including the 60 business parks across Northamptonshire to secure full coverage.

Growing PlacesIn 2011, NEP was allocated £5.8m from government’s Growing Places Funding (GPF) which has already helped to unlock significant development through investment in infrastructure.

NEP’s GPF allocation has been committed to support the release of housing and jobs, demonstrating that through forward funding of infrastructure NEP can accelerate the release of housing and employment.

The fact that the programme is heavily committed demonstrates the demand for infrastructure investment across Northamptonshire with ‘shovel-ready’ schemes that are ready to go.

For example, funding of £1.6m has been provided to the Bela Partnership from NEP’s Growing Places programme for the Priors Hall West Link Road (PHWLR) which forms an integral part of the wider Priors Hall Park residential development, comprising around 5,100 homes and other supporting mix of uses within the scheme.

Linked to this is the construction of the Corby Northern Orbital Road (CNOR) and development of the Rockingham-related business park which can accommodate 23,000 sq. m of new employment floor space.

The provision of PHWLR is a key infrastructure requirement which will unlock the development of an adjacent District Centre site, providing 39,855 sq. m of retail, employment and mixed use floor space.


Summary of Annual AccountsIn 2013/14 NEP’s income increased by a third on the basis of additional funding awarded from central government to LEPs in recognition of the resources required for LEPs to be effective in their role to develop and implement both the Strategic Economic Plan (SEP) and European Structural and Investment Fund Strategy (ESIF).

Income from Northamptonshire County Council continued to support NEP’s service delivery activity.Expenditure on both project activity and running costs increased to ensure the delivery of the additional responsibilities vested to LEPs in the development of both strategies.

At the end of the year our net assets were slightly higher than the previous year with a similar surplus carried into the next financial year as a reserve.

Fixed assetsTangible assets

Current assetsDebtorsCash at bank and in hand

Creditors: amounts falling due within one year

Net current assets

Total assets less current liabilities

Net assets

ReservesProfit and loss account

Surplus

10,817 9,200

40,448 38,737 2,411,099 1,837,012 2,451,547 1,875,749

(2,210,474) (1,655,674)

241,073 220,074

251,890 229,274

251,890 229,274

251,890 229,274

251,890 229,274

2014 2013 £ £

Balance Sheet - Year ended 31 March 2014

Detailed Profit & Loss Account - Year ended 31 March 2014

TurnoverLocal Authority Central Government incomeNCC Capital FundingOther public fundingPrivate sector

Total Income

Cost of SalesProject CostsProject Delivery Costs

Total Cost of Sales

Gross ProfitCorporate & Establishment Costs

Other Operating IncomeBank interest receivableSurplus on ordinary activities

839,585 200,969 1,277,904 1,509,278 287,370 154,093 15,115 6,725 2,419,974 1,871,065

(1,126,999) (859,636) (785,377) (601,090)

(1,912,376) (1,460,726)

507,598 410,339 487,670 413,427

3,360 3,112 23,288 24

2014 2013 £ £

Governance StructureNEP, like other Local Enterprise Partnerships, has taken on new responsibilities for Government’s Local Growth Funding and the European Structural and Investment Fund, both of which will be delivered as from 2015, alongside local economic development funding provided by Northamptonshire County Council. It is essential that the planning for, and delivery of this funding, is subject to the highest standards of transparency, accountability and visibility.


Prosperity Board

Democratic and FinancialAccountability

Local Delivery Teams

Northamptonshire ESIF

Committee

Growth Implementation

Board

NEP Board*

Strategic Growth agenda andprivate sector accountability

HPT

Logistics

Food & Drink

Creative & Cultural

Employment&

Skills

Infrastructure&

ConnectivityHousing

Business&

Innovation

ProgrammeManagement

Operational Arm of LEP Board Accelerating Growth Enabling Growth

Strategy Boards

* Fulfils Local Transport Body functions

The NEP Board therefore agreed to develop

new governance arrangements, which became

operational in 2014. These were designed to drive

forward growth in Northamptonshire; provide wide

partnership input to strategy development and

delivery; meet central Government’s tests for LEP

governance and leadership arrangements; and

importantly discharge the financial, democratic

and private sector accountability requirements for

devolved funding.

These new arrangements bring together private,

public and voluntary and community sector partners

to drive forward the delivery of the Strategic

Economic Plan and European Structural and

Investment Fund (ESIF) Strategy, and ensure that

NEP’s business is delivered to the highest standards

of propriety and transparency.

In addition to the wider partnership governance

structure, NEP as a company limited by guarantee

has a Finance and Audit Committee, which provides

ongoing scrutiny to the business and its operations.

Finance & Audit Sub-Committee

Working in PartnershipNEP has developed its governance structure to ensure that a wide range of public, private, voluntary, community and other partners are involved in driving forward our business and making sure that we continually operate to the highest standards of propriety in the best interests of Northamptonshire, its businesses and its people.


Business & InnovationChair: David Rolton Founder, Rolton Group

Maxine Aldred Development Manager, Federation of Small BusinessesDavid Attwood European Sales and Operations Manager, Bobux International Simon Bowers Business Manager, Daventry District CouncilPhilip Bruce Group Managing Director, Scott BaderJon Corbett Head of Corporate Banking, BarclaysGerald Davies Deputy Principal Resources and Development, Moulton CollegeProf. Simon Denny Director of Research, Impact & Enterprise, University of NorthamptonPaul Griffiths Chief Executive, Northamptonshire Chamber of CommerceJan Hamilton-Thompson Economic Development Officer, South Northamptonshire Council Ian Harrison Regional Director, UKTIStuart Hartley Centre Manager, Corby Enterprise CentreLinda Lee-Davies Principal Lecturer Corporate & CPD, University of BedfordshireAmanda Nunn Assistant Director, CBIDavid Oliver Chief Executive, East Northamptonshire CouncilDavid Scott Chairman, Scotts of ThrapstonStephen Smith Chief Executive, EMB Group David Ward Strategy and Business Development Manager, Voluntary Impact NorthamptonshireSyed Ziaullah Chief Executive, Action Express

Employment & SkillsChair: Stephen Davies Chief Executive & Principal, Moulton College

Clare Allen HR Director, St Andrews HealthcareCllr. Tom Beattie Leader, Corby Borough CouncilSharon Blackburn Police & Communications Director, DWPPat Brennon-Barrett Principal, Northampton CollegePaula Bright Senior Executive, ConnexionsCollette Byrne Regional Partnership Manager, EnableHelen Chambers Senior Partnership Manager, DWPAndrew Cheal Assistant Director, Learning, Skills and Education, Northamptonshire County Council Martin Hammond Deputy Chief Executive, Kettering Borough CouncilJon Hinde Principal Regeneration Officer, Northampton Borough CouncilSara Homer Acting Chairman, Brackmills EstateGreg Kirkman Managing Director, Ensafe ConsultantsSharn Matthews Executive Director, East Northamptonshire CouncilCllr. John McGhee Northamptonshire County CouncilGed McHugh Economic Development Officer, Corby Borough CouncilStuart Parkes Relationship Manager, Skills Funding AgencyMark Sawyer Managing Director, IPS GlobalAlan Smith Chief Executive, NitalCarolyn Svahn Training & Development ConsultantJulie Trahern Head of Income and Debt, Kettering Borough CouncilIan Vincent Chief Executive, Daventry District CouncilMairi Watson Deputy Dean, Development, University of NorthamptonStuart Wesselby Principal, Tresham CollegeSue Wright Account & Sector Manager, National Open College Network

HousingChair: David Reynolds Chairman, NNDC

Charles Amies Director, Midlands, HCA David Atkinson Head, WNJPURoy Boulton Assistant Director, Northamptonshire Highways, Northamptonshire County Council Gary Brough Director of Estates, Northampton CollegeSteve Butterworth Housing Coordinator, Corby Borough CouncilCarol Cairns Area Manager, HCABob Colenutt Senior Lecturer, Social Sciences, University of NorthamptonCarol Conway Housing Strategy & Delivery Manager, East Northamptonshire CouncilJohn Conway Head of Housing, Kettering Borough CouncilJoanne Harrison Strategic Housing Manager, South Northamptonshire CouncilChris Hatfield Managing Director, David Wilson HomesVicki Jessop Principal Housing Manager, Wellingborough CouncilJohn Lagan Development Director, Lagan GroupPaul Lewin Planning, Policy and Heritage Manager, Northampton Borough CouncilAndrew Longley Planning Manager, JPUJacquie Page Housing Strategy Manager, Corby Borough CouncilKatie Sagoe Director of Housing Services, Spire HomesCaroline Wardle Chief Executive, NNDCAndrea White Business Development Director, Keepmoat RegenerationRichard Wood Local Strategy Manager, Daventry District Council

Infrastructure & ConnectivityChair: Cllr. Jim Harker OBE Leader, Northamptonshire County Council

David Atkinson Head, WNJPUMichelle Booth Service Administrator, University of Northampton Simon Bowers Business Manager, Daventry District CouncilSteve Boyes Director of Regeneration, Enterprise & Planning, Northampton Borough CouncilChris Carlisle Director, Decorum EstatesTony Ciaburro Director of Environment, Development & Transport, Northamptonshire County Council Gerald Davies Deputy Principal Resources and Development, Moulton CollegeMatt Easter Regional Director of Office Agency, SustransMark Hall Director of Finance, Infrastructure, IT and Commercial Services, University of Northampton Alex Jelley Economic and Regeneration Manager, Kettering Borough CouncilGareth Jenkins Head of Bid Management, BT GroupVictoria Lazenby Asset Development Team Leader, Highways AgencyIan Leather Regional Director of Office Agency, Lambert Smith HamptonGed McHugh Economic Development Officer, Corby Borough CouncilPeter Orban Regional Development Manager, SustransNicholas Roberts Partner, Drake Commercial LLPJames Saunders-Watson Head of Investment Trust Marketing, J.P. MorganPaul Tomlinson Associate, URSGreg Ward Lead Officer, Economic Development and Tourism, South Northamptonshire Council Andy Wilkinson Midlands Flood and Coastal Risk Manager, Environment AgencyBill Wright Business Development Manager, Parkway MK


Northamptonshire ESIF CommitteeChair: Cllr. André Gonzalez De Savage Northamptonshire County Council

Ian Achurch Head of External Funding & Partnerships, Northamptonshire County Council Lee Barron Regional Secretary, TUCCllr. Tom Beattie Leader, Corby Borough CouncilSimon Bovey Chairman, Northamptonshire LNPSteve Boyes Director of Regeneration, Enterprise & Planning, Northampton Borough Council Jane Carr Chief Executive, Voluntary Impact NorthamptonshireHelen Chambers Senior Partnership Manager, DWPMelanie Crunkhorn ERDF Governance Manager, DCLGBarry Davies Chair, National Farm Attractions NetworkProf. Simon Denny Director of Research, Impact & Enterprise, University of Northampton Phoebe Edwards Executive Director, EMB LtdMark Foley Head of Programme Delivery Team, DCLGAndrea Hughes Director of Employer Engagement and Marketing, Moulton CollegeMatt Latham Programme Manager, Environment Agency Karen Lewis Strategic Bidding Manager, University of Northampton Danny Moody Chief Executive, Northamptoinshire County Association of Local CouncilsWill Morlidge Assistant Director, BISStuart Parkes Relationship Manager, Skills Funding AgencyEmma Powlett Rural Management ConsultantGreg Ward Lead Officer, Economic Development and Tourism, South Northamptonshire District CouncilIan White Team Leader, DCLG

Prosperity BoardChair: John Markham OBE Chair, NEP

Cllr. Tom Beattie Leader, Corby Borough CouncilCllr. Paul Bell Leader, Wellingborough CouncilCllr. Michael Clarke Northamptonshire County CouncilCllr. Jim Harker OBE Leader, Northamptonshire County CouncilCllr. David Mackintosh Leader, Northampton Borough CouncilCllr. Chris Millar Leader, Daventry District CouncilCllr. Steven North Leader, East Northamptonshire CouncilCllr. Russell Roberts Leader, Kettering Borough Council Cllr. Bill Parker Northamptonshire County Council

Growth Implementation BoardChair: John Markham OBE Chair, NEP

Paul Blantern Chief Executive, Northamptonshire County Council John Campbell Chief Executive, Wellingborough Council David Cook Chief Executive, Kettering Borough CouncilDavid Kennedy Chief Executive, Northampton Borough CouncilDavid Oliver Chief Executive, East Northamptonshire County CouncilSue Smith Chief Executive, Cherwell & South Northamptonshire CouncilNorman Stronach Chief Executive, Corby Borough CouncilIan Vincent Chief Executive, Daventry District Council

Acknowledgment:NEP would like to thank Rowena Limb and Will Morlidge, of BIS, for their support to the Governance Structure, Partnership Working and NEP generally.All partnership bodies are supported by the NEP Executive Team.

Finance & Audit Sub-Committee Chair: Graham Goss Consultant, Haines Watts Chartered Accountants

Gerald Couldrake Company Secretary, Howes Percival SolicitorsAndrew Langley Managing Director, Juniper TradingJohn Markham OBE Chair, NEPCllr. Bill Parker Northamptonshire County Council

Creative & Cultural Industries Strategy Board Chair: Martin Sutherland Chief Executive, Royal & Derngate

Morag Ballantyne ConsultantSteven Boyes Director of Regeneration, Enterprise & Planning, Northampton Borough Council / Enterprise Zone Graham Callister Cultural Policy & Planning Manager, Northamptonshire County CouncilSimon Fitch Senior Manager Funding Programmes, Arts CouncilTony Klinger Chief Executive, SAM FilmsCarol MacIntyre-Jones Company Director, River Nene Boats Laura Malpas Visitor Services & Community Manager, National TrustNisha Mejer Chair, NIFF (Northampton Inter Faith Forum)Steven Taylor Dean (acting), School of the Arts, University of NorthamptonNeil Webb Director, Balance UKAndrew Wise Strategic Director, Engine Creative

High Performance Technologies Strategy BoardChair: Philip Bruce Group Managing Director, Scott Bader

Stuart Banks Chief Executive, Stuart Banks Engineering Simon Dowson Managing Director, Delta MotorsportLuke Hampton Supply Chain Development Manager, Society of Motor Manufacturers and TradersKaren Holland Chief Executive, XCAMRichard Philips Managing Director, Silverstone CircuitDavid Rolton Founder, Rolton GroupJohn Sinclair Dean of the School of Science & Technology, University of Northampton Pio Szyjanowicz Group Head of Marketing, Cosworth Clive Temple Programme Director, MSc Advanced Motorsport Engineering, Cranfield UniversityJulian Winch General Manager, Snap-on

Logistics Strategy BoardChair: Scott McGinley Commercial Director, DalePak

Paul Abbott Group Director, Knights of Old Steve Agg Chief Executive, The Chartered Institute of Logistics and Transport UKIan Beattie Managing Director, Knights of OldTony Ciaburro Director, Environment Development & Transport, Northamptonshire County CouncilPaul Davey Head of Corporate Affairs, Hutchison Ports UKLiam Fassam Lecturer in Operation Management, University of NorthamptonAndrew Gough Associate Professor, University of NorthamptonElaine Harries Managing Director, Action Express Mark LaMontais Business Development Manager, Yusen Logistics Frank Ring Business Development Manager, Amethyst GroupMark Simmons HR Director, Norbert Dentressangle


NEP TeamChief Executive’s Office

Jo LappinChief Executive Officer

01604 609 [email protected]

Debbie RoeExecutive PA to Chair, Chief Executive & Office Manager

01604 609 [email protected]

Apprentice Administration OfficerVacant post

Business & Innovation Tim BagshawHead of Business & Innovation01604 609 [email protected]

Ruth RoanSmall Business Support Manager01604 609 [email protected]

Dagogo KinigomaBusiness Advisor01604 609 [email protected]

Julia SchumacherBusiness Growth Manager (Sectors)01604 609 [email protected]

Charlotte PatrickBusiness Growth Manager (Supply Chain)01604 609 [email protected]

David BurrowsInternationalisation Manager01604 609 [email protected]

Jonathan NunnCorby Inward Investment Manager01604 609 [email protected]

Employment & Skills Head of Employment & SkillsVacant post

Jo StewartJobs Brokerage Manager01604 609 [email protected]

Louise WestJobs Broker01604 609 [email protected]

Education Business ManagerVacant post

Skills Development ManagerVacant post

FinanceJune MeadowsHead of Finance01604 609 [email protected]

Programme ManagementSajeeda RoseChief Operating Officer01604 609 [email protected]

Cathy MartinProgramme Manager01604 609 [email protected]

Stacey WylieProgramme Manager01604 609 [email protected]

Adam BracewellFunding Programme Co-ordinator01604 609 [email protected]

Julie HardistyProgramme Assistant01604 609 [email protected]

Laura JenkinsInvestment Data Co-ordinator01604 609 [email protected]

Marketing & CommunicationsKate DentHead of Communications01604 609 [email protected]

Gill BirkettMarketing Executive - New Media01604 609 [email protected]

Mark HillierMarketing Executive - Content01604 609 [email protected]

Ben MainwaringMarketing Executive - Digital & Production01604 609 [email protected]

European OfficeRichard WoodsHead of European Investment+32 (0) 2238 [email protected]

Ryan TitleyEuropean Investment Manager +32 (0) 2238 [email protected]

NEP has a strong track record in the development and delivery of strategic economic investment programmes including successful delivery of Government programmes such as Regional Growth Funding, Growing Places, together with locally funded initiatives such as INV-ENT, LOCATE and Soft Landing.

This successful delivery is down to the NEP team, which is competent, capable and

effectively resourced with significant experience in delivering economic growth activity.

Importantly, the team has a sound understanding of the locality, together with the

commitment to work strongly in partnership via the new governance arrangements.

In anticipation of the move to delivery of the SEP and ESIF strategy, NEP has completed a

re-organisation designed to manage both performance and in-house delivery of NEP

products and services, alongside a strategy and commissioning function, which will deliver

through partner organisations. NEP will operate these two distinct arms of the business,

ensuring that there is a clear separation of duties between the role of investment manager for

national and European funding, and that of delivery body for local programmes.

Funding from

Funded by

NEP - Annual Report 2014

Documents

Transcript of NEP - Annual Report 2014