“Today’s PAC report provides many helpful pointers for future LEP strategy nationwide which our Board will be considering. However, we are proud that Enterprise M3, one of only six LEPS whose strategy was recently judged “exceptional” by Govt, has been able to spend its entire £37m funding allocation in the past year to drive economic growth in our region.
We have just released our Annual Report which clearly evaluates the impact of the projects we has funded, exceeding targets for homes and jobs, as well as supporting the delivery of essential infrastructure and investing in innovation and clean growth.
We are already in the process of developing a fully-inclusive Local Industrial Strategy which is focusing not just on growing the economy but on how that growth is achieved - through enhanced productivity and in ways that maximises the benefit for people and places across the EM3 area.
In our drive to increase local economic growth and private sector investment, EM3 remains aware of the public responsibility it holds when exercising how it spends government funds and makes every effort to ensure its decision-making is transparent, accountable and delivers value for money.
Our Board is a diverse mix of leading experts which include local authority political leaders, as well as small and large companies, not-for- profit organisations, colleges and universities and we are proud to operate to the highest standards of openness, transparency and governance.
From 1 April 2024, the responsibility for LEP functions across the Enterprise M3 LEP region has transferred to Hampshire County Council and Surrey County Council.
The Enterprise M3 Board met for the last time in March 2024 and Enterprise M3 LEP is no longer operating as an organisation.
For any enquiries relating to economic development across the counties of Hampshire and Surrey, please visit the Hampshire County Council website and Business Surrey respectively.
Please note that Enterprise M3 LEP staff have transferred to Hampshire County Council to continue to deliver services and activities in Hampshire, including the Growth Hub, the Careers Hub, work on key business sectors, and trade and investment.
They can be contacted at economic.development@hants.gov.uk.
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