Local Employment Growth Initiative
In March 2005, the Government consulted on proposals to establish a Local Enterprise Growth Initiative (LEGI) fund with the aim to:
“To release the productivity and economic potential of our most deprived local areas and their inhabitants through enterprise and investment – thereby boosting local incomes and employment opportunities”
In order to achieve this national aim, the LEGI seeks to secure the following outcomes:
- To increase entrepreneurial activity among the population in local deprived areas;
- To support sustainable growth – and reduce the failure rate – of locally owned business in deprived areas; and
- To attract appropriate inward investment and franchising into deprived areas, making use of local labour resources.
In addition to the three outcomes above the Government has six key principles that LEGI proposals need to reflect. These are:
- There must be effective targeting (to ensure that people living in deprived areas benefit);
- Proposals must put forward effective solutions (to address fundamental barriers to growth, including crime);
- There must be a significant commitment (of resources over the long term);
- Proposals must be supported by strong local and regional partnerships (with business and the wider community);
- Proposals must be integrated (with broader regeneration efforts and business support initiatives) and;
- There must be evaluation and evidence building (to inform continuous improvement and the development of future policy)
To find out more about Leicester and the Local Employment Growth Initiative telephone 0116 252 8652.