SEMLEP post AGM announcement

Yesterday, 5 March 2024, the SEMLEP Board met to transfer responsibility of delivering the Local Enterprise Partnership activities to West Northamptonshire Council and to formalise the closure of SEMLEP as a registered limited company.

The decision follows the Government’s announcement to stop funding Local Enterprise Partnerships from 1st April 2024, and for LEP roles to be hosted by local democratic institutions. West Northamptonshire Council will oversee the regional teams delivering Growth Hub business support and investment services, the South East Midlands Careers Hub and economic evidence and strategy on behalf of the whole area.

As an advocate for the region’s economy, leaders of business and communities since 2011, the SEMLEP Board and team is proud to have worked with so many public, private, education and voluntary sector colleagues to shape evidence-based, long-term growth strategies and deliver investment for the region.

Since 2015, this has translated into securing and overseeing around £300 million of public investment to unlock significant private sector investment to create jobs, increase learner numbers, and open-up development opportunities. The return of this investment is estimated to be £9 for every £1 spent. In addition, since 2018, we have awarded nearly £4 million of grant funding to local businesses to enhance innovation, build resilience and improve productivity. Today, the SEMLEP team continues to inject further funding to local businesses through our current Growth Hub grant funding programmes.

As we enter the 2024-25 financial year, new structures will be put in place to embed a strong, independent business voice into strategic economic planning. Further details about a new Business Board to achieve this will be provided by the Local Authority leaders through the Central Area Growth Board in the coming weeks.

The team remains committed to continue its vital role in supporting businesses to capitalise on their strengths so our region can be more productive, greener and more inclusive. We stand ready to support you further in our collective efforts to help secure the best possible future for our area.

Personal note from SEMLEP Chair, Peter Horrocks CBE. “I would like to express my deepest personal appreciation to everyone who has contributed to the positive economic and social impact SEMLEP has had on our area. In particular I'd like to thank the brilliant staff, the many board members and everyone who has given their time and dedication in this inspiring collaboration.

"It has been a privilege and pleasure to be Chair. I have loved experiencing the benefits we have been able to deliver throughout our patch. I wish the very best to all those who will continue the good work of SEMLEP in the new set up.”

Personal note from SEMLEP Chief Executive, Hilary Chipping. “It has been a great pleasure and a privilege to enable the development of SEMLEP from a few committed and energetic people in the early days, working with a newly formed Board, to the team of over 35 people delivering an extensive capital programme, business support and careers education advice to the whole of the South East Midlands area.

"I am most grateful to the Board, our stakeholders, Ambassadors and those that have contributed to our Advisory Groups for their support. I am sure that the team will continue to work with local businesses and communities in the area with the same degree of professionalism and impartiality going forwards, hosted by West Northamptonshire Council. I wish them all well for the future.”