GROWTH AREA
The Hertfordshire Growth Deal focuses on
three Growth Areas with significant potential
for economic growth. These have been defined
spatially around Hertfordshire’s principal road and
rail corridors: the M1/M25, A1(M) and the A10/M11.
M1/M25 GROWTH AREA
The M1/M25 corridor has considerable economic
potential. Significant investment in Croxley Rail Link is
set to deliver huge benefits and the proposed construction
of the new high speed rail network HS2 could bring
substantial employment and training opportunities.
THE GROWTH DEAL FOR M1/M25 AREA
FOR 2015/16
TO 2020/21
HERTFORDSHIRE LEP
HAS SECURED...
£93.35m
from the Local
Growth Fund
for the M1/M25
Growth Area
ENABLING FLAGSHIP
SITES FOR HOUSING
AND EMPLOYMENT
• £ 2.3m (£0.25m in 15/16) for
Growth Area Forum
• Use part of its £12.5m Evergreen
Infrastructure Growth Fund
to support the delivery of up
to 500 new homes and a retail
neighbourhood centre at
South Oxhey
• Secured £19.63m borrowing
at a reduced Public Works Loan
ENABLING
TRANSPORT
CONNECTIVITY
GROWING JOBS AND
PROVIDING SUPPORT
FOR KEY SECTORS
• £ 87.85m to help realise Croxley
Rail Link to unlock investment in
brownfield sites and revitalisation
of existing employment areas
• £ 0.5m for improvements to
Rothamsted Research campus
GROW THE SKILLS BASE
• £ 5m to upgrade facilities at
West Herts College
This Deal will deliver
at least 1,400 jobs
and an additional
1,470 skills places
Board (PWLB) project rate to
support Hemel Hempstead’s
town centre regeneration
• £ 0.1m for Maylands
Growth Corridor Study on
infrastructure needs for
future employment and
housing developments
around Maylands
As part of its
£16m Growing
Places Fund,
Hertfordshire LEP
has allocated:
• £1m to support the building of
a third stage and new business
premises at Elstree Studios
• £1.5m to redevelop part of
Watford Business Park
• £ 6m to build new road access
to Watford Health Campus
COUNTYWIDE SCHEMES
• £1m to make fibre broadband
•A
round £60m European
available to at least 98% of
Structural and Investment
homes and businesses in the
Funds (ESIF) to support
county, including £0.5m invested
economic growth,
in Centennial and Maylands
business competitiveness
Business Parks
and innovation,
• £ 0.35m invested in setting up
employment opportunities
Hertfordshire Growth Hub, a free
and social well-being
and impartial countywide business across Hertfordshire
support and advice service
from 2015
Image: freepic.com
M1/M25