Funding

Funding 2004-2005

The LSEP's budget for 2004-2005 is £7.256m, which is funded by the East Midlands Development Agency (emda). The funding will support projects with total costs in excess of £20m. Spending by theme is shown below.

Theme	Total Funding (£k)
People and Skills	706
Enterprise and Innovation	1,500
Land and Buildings	2,600
Sustanable Commuities	1,200
Information Communication Technology	500
Research	450

Funding Criteria

The LSEP and its Board, along with the East Midlands Development Agency (emda), is reviewing its Funding Criteria and will issue further information later in the year. Information on the previous criteria is provided here as a guide to the priorities which have underpinned the projects funded so far by the LSEP.

Previous Policy

In its initial operations the LSEP has focused on a number of priorities that it believes will have a real impact on Leicester Shire and this has decided which projects merited funding. These priorities have focused on the six key 'themes' which drive the LSEP, as well as projects which cut across these themes.

The LSEP's core funding comes from emda and the priorities carried out by the themes are intended to bring results as part of an overall regional strategy. A way of measuring the impact of this funding has been decided by emda and different themes will have different expectations; emda's general criteria for measuring results is shown in Figure 1, although this is under review for the next financial year 2005-06.

Number new jobs created and safeguarded	Number businesses support to increase ICT use
Number businesses engaged in cluster activity	Number enterprises assisted by regional investment funds
Hectares of brownfield land recycled	Number new social enterprises
Number learning opportunities created and filled	Number graduates newly employed in small businesses
Number new businesses created/attracted to region and sustained for a year	Number people over 45 receiving advice and support for return to labour market
Number additional community facilities	New build or refurbished space - housing
Number science and technology-based 'spin-out' companies	New build or refurbished space - employment
Number business cluster groups addressed	Number businesses influenced to expand in region following aftercare visits

Figure 1. How emda measures funding results 2003-04

Previous Funding Priorities by Theme

Each theme has specific priorities which have led to certain projects being commissioned. These priorities are currently under review by the LSEP and its Board, along with emda, and updated criteria will be published later in the year. The previous criteria are listed here to illustrate how the first round of projects have been chosen.

People and Skills

The LSEP recognises that the knowledge, skills, aptitudes and motivation of people are amongst Leicester Shire's greatest potential assets. We want to raise the level of skills to match them with the demands of the economy. There are already major organisations who are delivering the skills agenda, such as the Learning and Skills Council, Jobcentre Plus, Connexions, the three local universities and the further education colleges - and the LSEP has focused on filling gaps in provision.

Enterprise and Innovation

The LSEP is helping to create an environment in which local enterprises grow and flourish and encourage innovation in the field of design, research and knowledge transfer. We are doing this by working with the business community, local universities and support organisations, helping them add value to the local economy and raise wage levels.

Land and Buildings

The LSEP is starting to create the right conditions for existing and new businesses within and outside the area to invest in Leicester Shire in a sustainable way to create new jobs. This requires the right quality and quantity of land, buildings and infrastructure to be either planned or in place. Our focus has been on supporting bigger projects which will make a major difference to the sub-regional economy. One product of this approach has been to work closely with the Leicester Regeneration Company.

Sustainable Communities

The LSEP is starting to develop more sustainable, equitable and socially inclusive communities which build on the richness of our cultural diversity, reduce the gaps between the deprived and wealthy and add to the quality of our environment.

Information Communication Technology

The adoption of ICT and its use over high-speed networks to deliver economic benefits to the sub-region has been an important component of the LSEP's overall strategy in Leicester Shire. We have encouraged the widespread implementation and adoption of broadband technology, particularly in rural and regeneration areas.

Research

Research projects are carried out by the Research Manager, through Leicestershire Intelligence, work supporting the other themes within the LSEP. Projects have occasionally been commissioned from outside the organisation. Specific focus has been placed on the production of intelligence and the development of collaboration, to increase knowledge whilst avoiding duplication.