It has been 11 years since the publication of Perfectly Placed for Business, Hertfordshire’s Strategic Economic Plan (SEP) which set the blueprint for growth for the next decade and was last revised in 2019. Its vision to become one of the leading UK economies by 2030 was underpinned by these key priorities: * Maintaining global excellence in science and technology * Harnessing our relationships with London (& elsewhere) * Reinvigorating our places for the 21st Century * Foundations for growth Since then, significant progress has been made and the plan secured considerable private and public sector investment in Hertfordshire. In less than 10 years, GVA has grown by £10bn, generating over £46bn a year. Huge global pressures have also had an impact on the local economy with COVID, UK’s departure from the European Union, war in Ukraine and the Middle East, and a cost-of-living crisis. Changes to the wider political landscape on both a local and national level, and a new UK Government means that the time is right to develop a new economic strategy and help plan ahead for future growth.

In order to develop a more holistic and rounded definition of economic success, the strategy considered wider issues surrounding social and health inequalities, reaching legal net zero and new housing commitments and safeguarding our natural habitats. It also took into account global mega-trends such as AI and digitisation, ageing populations and geo-political risk and uncertainties. In so doing, the strategy focused on three main pillars: digital innovation, inclusion and sustainability. These priorities were then road-tested with stakeholders during the engagement phase.

There were numerous ways we engaged with residents, businesses and young people in education and training via surveys, business meetings and webinars. This website is the central hub for developing the evidence base, accessing key documents and viewing feedback reports. The draft economic strategy will also go out for public consultation ahead of its final publication in Spring/Summer 2025, giving residents, businesses and other organisations a chance to have their say.

This was an important part of the development and delivery of the emerging strategy. Local skills initiatives bring together employers, education, and training providers and other local stakeholders to set out the key priorities and changes needed. WE have drawn on this to ensure post-16 technical education and training prepares employees better for work. In addition Hertfordshire Careers Hub enables greater collaboration between clusters of schools by linking Careers Leaders, Enterprise Advisers and our Cornerstone Employer Group (a network of local businesses). We have engaged directly with schools to ensure pupils aged 16 + have had the opportunity to have their say on local economic issues via surveys and classroom toolkits. It was critical to ensure that the views of young people were captured during the engagement phase.

• Businesses • Government bodies and Local Authorities • MPs • Strategic/Place Partnerships: • Education and Employer Groups • Major Transport Providers • Environmental Groups: • Investors and Developers • Health, Police and other agencies • Voluntary and Community Groups • Residents • Professional/Civic Bodies • Media

From July to December 2024 we sought the views from lots of organisations and individuals to help us to develop the strategy. This took the form of place-based discussions at district and county level, business roundtables and public surveys. An Economic Strategy partner toolkit was developed to help ensure that the conversations were structured and meaningful with a clear plan for how this engagement would be used. This activity built on the rich data that has been amassed over the past 10 years to help to develop a greater understanding of the strengths and challenges of the local economy and develop a roadmap for the future. This evidence base is on the Engagement section.