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July 2014

New Skills Newsletter launched - please take a look at the first edition here.  You can also sign up for future editions.

GAIN Digital Exchange launched - showcase celebrates new online community powering South West business growth. Read more here.

The Heart of the South West Local Enterprise Partnership is a strong and dynamic partnership between the private sector, local authorities, universities and further education across Devon, Plymouth, Somerset, and Torbay with the purpose of leading and influence economic growth, job creation and prosperity across the Heart of the South West.

About the Newsletter
Produced monthly, this newsletter aims to keep people informed of current news and activity.

Growth Deal - £270m investment package for the Heart of the South West

The Heart of the South West LEP has secured an investment package for the area worth £270m. 

The LEP has agreed a Growth Deal with the Government which includes £130.3m from the Government’s Local Growth Fund to support economic growth in Devon, Somerset, Plymouth and Torbay. 

The deal will unlock further investment of £140m from the private sector and local partners.
We are now working on delivery of the Growth Deal.  This includes working with Government to put in place arrangements to enable us to draw down monies and confirming the scope of work to be delivered against each strand of activity.

To find out more, please click here.

HotSW champions region’s aerospace sector

HotSW teamed up with neighbouring inward investment organisations to promote the South West region at the  Farnborough International Airshow earlier this month.

HotSW was joined by inward investment agency Invest Bristol & Bath and the Dorset Local Enterprise Partnership to champion the South West in front of a global audience, along with the West of England Aerospace Forum (WEAF). 

The four partner organisations hosted a dedicated space at the event, designed to showcase the area and encourage new investment into the region – they were joined by aerospace and advanced engineering companies from the area, who exhibited their products and services.

Representing the Heart of the South West area was North Devon based Barum & Dewar, Wincanton based Flexible Software Solutions, Plymouth based Hymec and Taunton based Vapormatt.

At the show the team were visited by a number of MPs including Sir Nick Harvey (pictured).

To read the full press release, please click here.

Growing Places Funding offered to Eastover Hotel development project

A new project designed to create jobs and boost economic growth has been offered £4.5m of funding from the Growing Places Fund (GPF) by HotSW.

The Eastover Hotel is a new development set to transform the Eastover area of Sedgemoor.  The multi-million pound regeneration project will comprise a new 4 star 80 bedroom hotel with roof top restaurant and conference facilities as well as number of commercial units. 

It is anticipated that the hotel will help meet demand for bed spaces generated by the Hinkley Point project.

The project has been offered financial assistance under the £21.5m Growing Places Fund, which aims to use infrastructure projects to drive economic growth in the area. 

The initiative is designed to restart stalled capital projects that are ready to commence, but have been postponed for financial reasons. Successful applicants will be required to repay the fund, so the funds can be revolved and invested into different future projects.

To read the full press release, please click here.

Regional Growth Fund applicants urged to seek local support early

HotSW is reminding businesses applying for funding from the Government’s Regional Growth Fund (RGF) to start their applications early.

Round 6 of the Regional Growth Fund, which opened on 19 June 2014, makes at least £200m available to support projects that raise private sector investment to create economic growth and sustainable employment. 

HotSW wants to make sure businesses in its area benefit as much as possible from the fund.

One of the ways in which businesses can strengthen their application is by having it endorsed by the LEP. 

Chris Garcia, Chief Executive of the LEP said: "We want to support as many businesses as we can but, as we are a very small team we are asking applicants not to leave it till the last minute before they get in touch with us.”

"The deadline for submitting bids to Government is noon on 30 September 2014 and we need time to review requests for endorsements."

Businesses are therefore urged to submit their endorsement requests as soon as possible, and by 16 September at the latest, to ensure the LEP has plenty of time to process their request.

To find out more, please click here.
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