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Invest Herefordshire Herefordshire’S Economic Vision Page 2 Contents

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Invest Herefordshire Herefordshire’S Economic Vision Page 2 Contents Invest Herefordshire Herefordshire’s Economic Vision page 2 Contents Foreword 4 SECTION 3 - Supporting Investors Dare to Win - Herefordshire’s outdoor, Why an economic vision? 6 & Delivery 30 action & extreme sports offer 54 SECTION 1 - Herefordshire the county 8 SECTION 4 - Delivering our vision 34 Hereford river quarter 56 Economic Challenges 10 Map of projects 35 Business hotel & sports/leisure development 58 SECTION 2 - Vision, aims and outcomes 14 Investment Opportunities 38 The Urban Realm and parking 60 Aim 1 - A great place for business 16 The Hereford Enterprise Zone Leominster Railway Station Improvements 62 Aim 2 - A great place to learn 18 - North Magazine 40 Leominster retail led regeneration scheme 64 Aim 3 - A great place to live 20 Hereford business quarter 42 Business incubator programme 66 Aim 4 - A great place to visit 22 Model Farm enterprise park 44 The Herefordshire food and rural Aim 5 - Great movement and accessibility 24 NMITE 46 business centres 68 Aim 6 - Countywide ambition 26 Hereford urban village 48 The Lugg Living Lanscape 70 Aim 7 - A great environment 28 Berrington Street regeneration area 50 Hereford Football Club 52 page 3 Foreword Herefordshire is a dynamic, vibrant and growing The commitment to superfast broadband is As we all expect to be able to connect online, county. It has areas of outstanding natural beauty connecting creative and diverse businesses offline, to commercial centres and with natural and sites of specific scientific interest, with wildlife across the county, with big business existing surroundings, we need a thriving economy that and conservation sites covering 9% of the county. alongside successful smaller businesses. creates high value jobs, whilst maintaining and It is popular with tourists seeking to experience There are significant investment opportunities enhancing the quality of life and natural capital the outdoors, natural beauty and is home to town in a county that is already forward-thinking of this fertile county. This economic vision hailed as the birthplace of British tourism- Ross- and ambitious. A number of schemes are identifies the ambitions and intentions of a range on-Wye. Every May and December, thousands of underway, with the Hereford Bypass in progress of stakeholders and partners, to help make visitors arrive to the Hay Festival of Literature in and significant city-centre refurbishment and Herefordshire an even better to place to live, work the Welsh border town and the River Wye attracts investment creating an exciting and sympathetic and learn. water-based activities all year round. historic shopping and leisure destination. This is just the start. We aim to be aspirational It is not only tourists who enjoy Herefordshire. The There is commercial potential to capitalise on and forward thinking, to look beyond what is county’s entrepreneurial spirit and room to grow the county’s links to the Midlands, the South currently planned, identify new opportunities has proved fruitful to business, including Bulmers West and Wales alongside local specialisms in and build a bigger picture. We look forward to (Heineken), British Land, Cargill, Weston’s Cider, defence and security, manufacturing, food, drink working with you to deliver this economic vision Bloor Homes and Tyrrells Crisps. The defence and tourism. This economic vision identifies key for Herefordshire. industry is well-represented across the county, projects and investment opportunities across the as home to the Special Air Service and a short county and starts the conversation between local distance from Gloucester–based Government partners and the investment and development Communication Headquarters. community. page 4 page 5 Why an economic vision? n Britain’s economy is changing. Regions must The economic vision has four key roles: compete ever more effectively for investment, 1. to support the growth of the Herefordshire whether from the private sector or the public economy by identifying priority projects: sector. Herefordshire is performing well – and competitively – in attracting inward public 2. to attract investment to Herefordshire and investment into our county’s infrastructure, but we guides it within the County: cannot depend upon public investment to drive 3. to raise the profile of Herefordshire and the our economy in the long-term, or to unlock its real investment opportunities: potential. 4. to provide Herefordshire with clear priorities for negotiations: The aim of setting out the economic vision is to realise the full economic potential of the county Alongside local stakeholders the principle through a coordinated plan that is at once audience is intended to be the development and dynamic but coherent and, whilst ambitious, is investment community. Consequently the vision persuasive, achievable and sustainable. aims to demonstrate the economic momentum and opportunity within Herefordshire. The economic vision focuses on a broad investment picture. It identifies a series of The timescale of the vision is set over fifteen private sector investment opportunities that will years, split into three blocks each of five years. contribute to the growth of the county. It also sets This gives focus on the projects which are already out what the public sector, in an enablement role, in development whilst also allowing an element of will provide in terms of creating the conditions to ambition and vision to be articulated over a longer encourage economic growth. time period. page 6 page 7 SECTION 1 Herefordshire the county n Herefordshire is an entrepreneurial county, manufacturing, defence and security, food and Much has already been achieved in recent years 15% of the population are self-employed; there drink production, agriculture and tourism. Within to implement this proactive pursuit of growth. are excitingly high levels of patent registrations; the county a number of global companies – Major investments include: and good business survival rates. The county’s including Cadbury/Mondelez, Heineken, Cargill, • The Old Market retail and leisure business base is both diverse and healthy. Kingspan, and Special Metals, operate alongside development. This £90m development, in well known British brands – including Tyrells, partnership with British Land, brought a Despite its relatively rural location the county Weston’s Cider, and PGL, most of whom have new cinema, retailers that include a benefits from being on the motorway network started and grown in Herefordshire. department store and high end supermarket linking South Wales to the West Midlands in and restaurant chains reinforcing the role of addition to having direct and regular rail links to To support the county’s continuing growth, Hereford as a retail destination. London, Birmingham, Manchester and Cardiff. Herefordshire Council has recently adopted a local Birmingham, Bristol and Cardiff airports are all plan which by 2031 will have delivered 16,500 • Fastershire. A £32.5m programme of accessible within a 90 minute drive. new homes; new bypasses for Hereford and investment in superfast broadband Leominster to reduce congestion and improve infrastructure, delivering a 21st century digital access to markets; and sufficient employment network, to 55,000 homes and businesses land to meet the needs of a growing business countywide. base. • Hereford Enterprise Zone. A 74 hectare new business park development which has already secured over £23m of public and private investment delivering business growth The largest business sectors are currently and new job opportunities. page 8 • Halo Leisure. Investment of £10million in the redevelopment of a range of sports and leisure centres to bring facilities into the 21st century, enhance the user experience, and improve the company’s economic viability. • Securing over £43m from central government for road infrastructure schemes which will enable the development of several hundred city centre homes, and form the first section of a Hereford bypass. • Investing £7m in the construction of a new Livestock market to facilitate the retail and leisure development within the city and provide a state of the art market to serve the Marches agricultural sector. These and other investments represent well over £250m of recent public and private investment in the county, improving the economic infrastructure and enabling private sector growth. page 9 Economic Challenges As with any county or region there are challenges When measured per head of population, Herefordshire is moving towards a more affecting the economic and social character of Herefordshire’s gross value added (GVA) in knowledge based economy. This is bringing Herefordshire. 2013 was £17,900, highlighting lower levels of forward improved communications infrastructure, economic productivity when compared to both upskilling of the workforce, attracting highly skilled n Challenge 1 – Productivity and a low wage regional (£19,400) and national (£24,000) GVA per employees who benefit from the opportunities on economy capita. offer and the high quality of life within the county. Herefordshire has very low unemployment, 3.5% over the period July 2015 to June 2016, finding The knowledge economy (founded on jobs is not an issue within the county. However in technological progress and advanced products 2016 Herefordshire finds itself within the bottom and supported by highly skilled workers in 5% of council areas across Great Britain in terms financial and business services, communications of average weekly wage. This is largely a legacy and information)
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