Extra £22.3m to boost Herts’ economy, government announces

The minister of state for business, energy and enterprise visited the county this week to announce details of a multi-million funding package for Herts.

Friday, 30th January 2015, 11:44 am
Mathew Hancock MP, Minister of State fo Business and Enterprise, visits the University of Hertfordshire. Photo: Terry Richards Photography

MP Matthew Hancock toured the University of Hertfordshire – which is to receive £2.5million from the wider £22.3million pot for the county’s Local Enterprise Partnership – to learn about its innovation hub which is set to link upsmall and medium-sized businesses with world-class academic and research facilities.

The full grant will be used to fund a raft of projects delivering hundreds of new homes, creating jobs, supporting businesses and improving skills provision around the whole of Herts.

The latest announcement is in addition to the £199.2m committed by the government last year, bringing the total expanded Growth Deal for the county to £221.5million.

The ongoing redevelopment of Hemel Hempstead’s West Herts College campus in the town centre comes under the original plans for the cash.

Hertfordshire LEP chairman John Gourd said: “We are delighted at the announcement today that the Government is to expand on our current Growth Deal which will see £22.3m further investment to be spent on vital town centre regeneration, growing the skills base and accelerating further new homes and jobs creation.

“We alsowelcome the investment in an innovation hub at the University of Hertfordshire which will strengthen further Hertfordshire’s outstanding science and technology sector.”

Find out more at www.hertfordshirelep.com.