A GAME- CHANGING YEAR FOR 0345 241 1196 [email protected] OXFORDSHIRE oxfordshirelep.com Oxfordshire Local Enterprise Partnership (OxLEP) Ltd Annual Report – 2017/2018 @oxfordshirelep Oxfordshire Local Enterprise Partnership oxlep © Oxfordshire Local Enterprise Partnership (OxLEP) Ltd 2018 Year 13 students at UTC Oxfordshire OxLEP Annual Report 2017/2018 WELCOME: NIGEL TIPPLE – CHIEF EXECUTIVE WELCOME TO OUR ANNUAL REPORT FOR 2017/2018 “We are building from a position of strength.” This annual report is entitled: ‘A game-changing year technologies underpinning quantum computing – can become for Oxfordshire’, reflecting the significant economic a ‘global leader’ and, if fully-utilised, could be worth in the region developments that emerged over the past 12 months, of £180bn to the UK economy by 2030, around six per cent of as Oxfordshire continued to demonstrate how it can be the global economy in these technologies. a ‘global asset’ to ‘UK PLC’ both now and – perhaps more In addition, working through the Oxfordshire Growth Board importantly – longer-term too. a hugely-significant £215m Oxfordshire Growth Deal – CONTENTS: Clearly, the major change to our economic landscape will be announced by the Chancellor of the Exchequer last November the end of the UK’s membership of the European Union in – will boost productivity, invest in infrastructure to support the Welcome: Nigel Tipple – Chief Executive 3 March 2019. delivery of up to 100,000 new homes across the county by 2031 and will allow Oxfordshire to utilise world-class science ‘World-class’ Oxfordshire 4 It’s still unclear how negotiations will progress and indeed and innovation assets, as well as making full use of our two conclude, but – whatever Brexit brings – Oxfordshire is in a Our performance in numbers 6 government-backed enterprise zones. prime position to capitalise on the opportunities presented The past year – funded programmes 8 through global trade opportunities and collaboration. We are The deal recognised the collaborative approach taken by Oxfordshire’s global strengths 10 building from a position of strength. the Oxfordshire Growth Board to ensure that, not just the county – but the wider region – benefits from a programme of One such opportunity is the development of an Oxfordshire The past year – European funding 12 sustainable growth. Local Industrial Strategy (LIS). More of Oxfordshire’s global strengths 14 We also saw the continued emergence of the retail sector Our ambition for Oxfordshire’s LIS is to position the county as within Oxfordshire, thanks to the £440m Westgate Oxford Our Board 16 one of the top-three innovation ecosystems globally – building redevelopment and the opening of 30 new stores at Bicester on the region’s world-leading science and technology clusters Our Committees and Sub-groups 18 Village, which now attracts over 6.5million visitors a year. – and to pioneer emerging transformative technologies and Annual accounts for 2017/2018 20 sectors, as part of the wider ‘Oxford-Cambridge Corridor’. As we head into 2018/2019, Oxfordshire moves into a ‘game- changing’ period of growth and our vision for Oxfordshire to be In summary: Jeremy Long – Chair 23 The LIS also provides a framework for delivery and investment a: ‘vibrant, sustainable, inclusive, world-leading economy – driven for ‘UK PLC’ and will avoid ‘more of the same’, nurturing radical by innovation, enterprise and research excellence’ aligns with and transformational ideas. continued global activity. This global potential was further-emphasised last autumn in the form of the Oxfordshire Transformative Technologies Alliance’s Science and Innovation Audit (SIA). It stated that the UK economy – through Oxfordshire’s four emerging transformative technologies of digital health, Nigel Tipple – Chief Executive space-led data applications, autonomous vehicles and 2 Nigel Tipple – Chief Executive, at our January Q&A event 3 OxLEP Annual Report 2017/2018 ‘WORLD-CLASS’ OXFORDSHIRE 1 k 2 No.1 100k of only three 43 government-backed highest half-year government-backed new jobs created enterprise zones figures for business new homes in the past by 2031 Local Industrial accelerating the UK space demand ‘WORLD-CLASS’ Strategies five years economy since 2013 OXFORDSHIRE Over the past year, Oxfordshire continued to reaffirm a world-leading economic position with significant developments £2bn No.1 in world leading 30k £440m TES-ranked university £246m and achievements announced. plus VAT-registered Westgate Oxford research born in the world (Oxford annual profit at businesses redevelopment from Harwell University) Bicester Village Campus opened THE JOINT EUROPEAN TORUS (JET) – bn No.1 CULHAM CENTRE FOR FUSION ENERGY £180 2nd most successful £215m global potential by 2030 fastest growing JET is the world’s largest and most powerful tokamak and the focal point of realised through LEP at attracting Housing and the European fusion research programme. Milestones at JET have included economy of all Science and office occupation Growth Deal the world’s first controlled release of deuterium-tritium fusion power and UK cities in England secured the world record for fusion power (16 megawatts). Innovation Audit The Joint European Torus (JET) – 4 Culham Centre for Fusion Energy 5 OxLEP Annual Report 2017/2018 OUR PERFORMANCE IN NUMBERS 1567 12 5 24 400 £200k employer events Community attendees and 54 new young individuals/businesses attended, promoting Employment Plans ELEVATE OUR exhibitors engaged apprenticeship attended start-up the benefits of in place (including start-up and growth at Careers ambassadors or growth apprenticeships Westgate Oxford) grants launched PERFORMANCE Fest 2018 recruited workshops IN NUMBERS As the Local Enterprise Partnership for Oxfordshire, we are consistently striving 28 41 16 £2m 51 1600 apprenticeship ERDF-funded for excellence to meet our vision for employers drop-in events held start-up workshops ELEVATE hours of introduced to to raise awareness and growth the county to have ‘a vibrant, sustainable, delivered programme face-to-face apprenticeships of apprenticeships workshops held inclusive, world-leading economy – in schools launched support driven by innovation, enterprise and research excellence’. Our agile set-up means we are able to provide an integrated range of services and functions to support dynamic economic growth – it has resulted in the following: 131 4986 40 £85k KEY school careers events, secondary schools of grants offered to 212 work experience OXLEP SKILLS apprenticeship engaged during 20 businesses across businesses received assemblies and allocated academic one-to-one support placements three competitive OXLEP BUSINESS workshops held year processes 6 The ‘Dreaming Spires’ of Oxford 7 OxLEP Annual Report 2017/2018 THE PAST YEAR – FUNDED PROGRAMMES LOCAL GROWTH FUNDS 1, 2 AND 3 CITY DEAL Through the Local Growth Funds 1 and 2 (LGF1 and City Deal ensures we can support the county’s economy LGF2), we have secured £118.4m to support dynamic through a £55.5m programme, creating 18,000 jobs. economic growth. THE PAST KEY ACHIEVEMENTS DURING 2017/2018 INCLUDED: This substantial investment from Government brings forward at least £100m of additional investment from local partners The Harwell Link Road – delivered by Oxfordshire County YEAR – FUNDED and the private sector. By 2021, programmes will create at Council – was completed and opened in March 2018. least 6,000 jobs and allow 4,000 homes to be built. This project is part of the wider Access to Enterprise Zone project PROGRAMMES Our key LGF3 focus is on developing skills to meet the needs of local employers, building on Oxfordshire’s strengths in QUAD1 (delivered at Harwell Campus) was completed in research and development and opening-up new commercial October 2017. SME occupiers are in place and fitting out development opportunities. their new premises KEY ACHIEVEMENTS DURING 2017/2018 INCLUDED: GROWING PLACES FUND We continue to make considerable The Northway and Marston Flood Alleviation Scheme, progress in strengthening the county’s delivered by Oxford City Council, was completed in summer 2017. This scheme reduces the flood risk of 110 homes in From a national fund of £500m, we received £9m to economy by helping to secure substantial the area help support schemes addressing the infrastructure funding – around £600m to date. of Oxfordshire. The Advanced Skills Centre (part-delivered by Abingdon and Witney College) was completed in December 2017 The Growing Places Fund has been designed to accelerate and opened to students in January 2018. The centre will developments that may have stalled as a result of a restricted address skills shortages in science, technology, engineering financial climate, to enable the creation of new jobs and maths and homes. The Disruptive Innovation for Space Centre (part of KEY ACHIEVEMENTS DURING 2017/2018 INCLUDED: LGF3) delivered by the Satellite Applications Catapult has commenced work. The project will provide a centralised The Milton Park Employment Access Link (Backhill Tunnel) facility for businesses to use for product prototyping pedestrian and cycle tunnel, delivered by Oxfordshire and testing, solving the significant financial and logistical County Council, was completed in September 2017. The BACKHILL TUNNEL, MILTON PARK problems associated with the creation of innovative tunnel improves cycle and pedestrian access to Milton Park products from Didcot Shut for several decades, Backhill Tunnel links Milton Park and the adjacent A4130 in west Didcot. Its