The Hertfordshire LEP announcement of £22m in additional funding from government, on top of the £200m grant last year, has been welcomed by Hertfordshire Chamber of Commerce.
The Chamber’s chief executive, Yolanda Rugg, has revealed the economic boost will lead to the creation of some 15,000 new jobs by 2021.
She said: “This is excellent news, particularly if there is a corresponding increase in apprenticeship programmes for young people.”
The Chamber chief said it also signals good news for Hemel Hempstead, adding: “The LEP plans for skills development by allocating funds to the West Hertfordshire College will give Hemel Hempstead the business boost it deserves.
“We also understand that 20,000 new homes will be built in the A1M, M1-M25 and M11-A10 areas of the county.
“Construction is a cyclical business, so we are optimistic that a boost in home-building will create opportunity for Hertfordshire apprenticeships in the trades and construction sector.
“Hertfordshire has also fast become the geographic mid-point between the Oxford and Cambridge life sciences sector.
“It is welcomed news that £70m of the grant will be used in A1M, M11-A10 and M1-M25 road improvements for better connectivity.”
The funding announcement last week brings the total expanded Growth Deal for the county to £221.5million.
You can find out more online at the official website www.hertfordshirelep.com