CWLEP will leave "a lasting legacy"
"CWLEP is, and always has been, one of the top performing LEPs in England and Coventry & Warwickshire continues to outperform many other areas in the UK"
Chair of Coventry & Warwickshire Local Enterprise Partnership (CWLEP), Sarah Windrum, has spoken of her pride in its achievements over the last 11 years and has vowed that its legacy will live on.
Earlier this year the Government announced in the Levelling-Up White Paper that LEPs in England are to integrate into local democratic institutions. Following this, CWLEP’s Board of Directors met on September 22 to agree it will cease its functions by March 31, 2023.
Since 2011, CWLEP has brought to the area £191 million of investment which has been match-funded by £407.4 million for a wide range of projects throughout Coventry and Warwickshire. This has led to the creation of over 17,500 jobs and support for 6,200 learners.
Three rounds of funding from Central Government’s Local Growth Fund have also led to building 5,500 new homes, the completion of 150,000 sqm of commercial floorspace, new Centres of Excellence for valuable local skills including WMG’s Degree Apprenticeship Centre and WCG’s Trident Centre.
To ensure that businesses continue to receive the support they need, the Coventry & Warwickshire Growth Hub will be established as a stand-alone entity with a new Board and revised governance structure as a community interest company. CWLEP expertise will be retained here through the existing team who have supported nearly 5,500 businesses with bespoke guidance.
The new CW Growth Hub will also integrate Coventry & Warwickshire Champions and Coventry & Warwickshire Place Board with the new Group initially funded by legacy monies from CWLEP and Local Authorities. The new Growth Hub Board will establish a Coventry & Warwickshire Economic Forum to ensure the needs of business are factored into future economic planning.
Sarah Windrum said: “CWLEP leaves a lasting legacy of which we can all be proud. CWLEP is, and always has been, one of the top performing LEPs in England and Coventry & Warwickshire continues to outperform many other areas in the UK as an attractive location for new investment.
“CWLEP funding has made a considerable difference to our town centres through projects like Transforming Nuneaton, Henley Street in Stratford, and the North Warwickshire Arts Challenge as well as infrastructure improvements ahead of Leamington hosting the Lawn Bowls and Para Bowls for Birmingham 2022 Commonwealth Games.
“Partnerships are at the heart of LEPs and that has particularly been the case in Coventry & Warwickshire where the united approach between the private and public sectors has been paramount to all our achievements. CWLEP has brought together our Local Authorities; District and Borough Councils; the private sector and our business representative organisations; and partners including voluntary, community, Further and Higher Education, and health sectors to achieve real impact for our area. And this approach through strength in partnership remains."
Warwickshire County Council Chief Executive, Monica Fogarty, shares the pride in what the CWLEP has achieved and pledged that the strong spirit of collaboration towards working to keep the region's economy strong will continue.
"Warwickshire County Council, along with all of our partners in the region, shares in the pride of CWLEP's achievements," she said. "It has been rightly recognised as one of the top performing LEPs in the country with an outstanding track record for attracting investment and helping to create the conditions in which our regional economy has thrived.
"The County Council will not waver from a commitment to work alongside public sector partners and businesses representatives to ensure that Coventry and Warwickshire continues to prosper as an area where businesses choose to invest and grow."