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23 November 2016

Autumn Statement: Growth Deal 3 and Innovation South update from Dorset Local Enterprise Partnership

Growth Deal:

The Chancellor announced in today’s Autumn statement that the South West, South East and London has secured £683 million for economic development in the latest round of Growth Deal funding.  Details of how this Local Growth Fund will be allocated across Dorset and which projects have secured funding are expected shortly.

Lorna Carver, director of Dorset Local Enterprise Partnership said:

“We are pleased that the South West, South East and London region has been allocated £683 million for economic development.  Dorset Local Enterprise Partnership submitted a strong and ambitious business plan to accelerate economic growth, jobs and skills across Dorset.  We are now keen to understand from government how this regional figure will be broken down and which projects in Dorset have secured investment.”

Innovation South:

The South of England, including the Dorset Local Enterprise Partnership area, has been recognised by the government for its potential to lead world markets with its innovations in digital enabling technologies.

In his Autumn Statement, Chancellor, Philip Hammond, gave the go ahead to "Innovation South”, a Dorset Local Enterprise Partnership backed group of enterprise, innovators and researchers, for a government backed science & innovation audit.

"Innovation South" made a powerful bid to ministers setting out a strong case that the South is unrivalled for its innovation and industrial capabilities in a combination of digital enabling technologies, with applications in key hi-tech sectors: Connected Digital, Bio Science, Advanced Engineering and Marine & Maritime.

Success in the bid means Innovation South will now work, with government support, to map these areas of outstanding commercial strength in science and innovation and collect a robust and compelling evidence base for investing in the area. The Audit will particularly highlight where there is potential for the region, and therefore the UK, to lead the world. This will help test the potential for these areas to build and develop world-leading ideas, products and technologies that will create jobs, increase UK productivity and drive growth.

Lorna Carver, director of Dorset Local Enterprise Partnership said:

"This is good news for the South of England, including Dorset, and positions it as a region of world leading innovators and entrepreneurs.

“The Science and Innovation Audit will enable us to showcase the world-leading research and innovation taking place across the “Innovation South" region, exemplified through Dorset’s business clusters of aerospace, advanced manufacturing, engineering, innovation, research and digital technology emerging around the airport, enterprise zone and universities.

“The Consortium embraces six local enterprise partnership areas, thirty-eight businesses and business groups, sixteen universities, and stretches from Dorset across to Kent, and from the Isle of Wight up to Reading and importantly is supported by a wide range of innovative businesses, from global corporates to SMEs and micros.

“The Science and Innovation Audit will allow our area to demonstrate where we have unique innovation strengths that, with the right investment, can help drive future growth and prosperity in Dorset, the region and across the UK.”

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