HIDB parliamentary reception: does Hertfordshire hold the key to unlocking UK growth?
More than 120 senior figures from government, industry, education and the voluntary sector attended the first-ever Hertfordshire Infrastructure & Development Board (HIDB) parliamentary reception at the House of Commons.
Hosted by Kevin Bonavia, MP for Stevenage, and organised by the Hertfordshire Growth Board, the reception highlighted the county’s vital contribution to national and international economic success.
The event was an opportunity for Hertfordshire to reaffirm its role as a driving force behind UK economic growth and a call to deliver continued investment and support if we are to unlock the county’s full potential.
A powerhouse of growth – But investment is needed
Attendees heard about Hertfordshire’s ambitious plans to build 100,000 new homes and create 100,000 new jobs. Last year, over 5,000 homes were built in the county – 70% on brownfield sites and 30% were affordable.
This served as a timely reminder of how the county is already delivering against the UK’s growth agenda through a shared vision and mission – but highlighted the need for more action to remove barriers to progress further.
With a local economy generating £46 billion annually—outperforming many UK regions—Hertfordshire is home to globally significant businesses driving innovation in life sciences, creative industries and professional services, however, it’s estimated the county also has a £14bn infrastructure funding gap between now and 2050.
To achieve long-term success, the event called on the government to:
- Cut red tape to accelerate business growth
- Address the county’s infrastructure funding gap
- Boost investment in transport, housing and digital connectivity
In attendance, Cllr Jeremy Newmark, Chair of Hertfordshire Growth Board, emphasised the need for a stronger partnership with Westminster: “We are already making strong progress, but today we are calling upon the Government to partner with us to boost Hertfordshire’s growth even further and help us deliver our ambitious agenda. We are asking them to provide the long-term funding certainty needed to drive things forward whilst also strengthening our places, people and communities.”
Delivering growth and innovation
Reception attendees also heard about the significant progress being made across the county, including:
- The commitment to delivering 100,000 high-quality, sustainable homes, including two new Garden Towns.
- The growth of film and TV production, with Sky’s Elstree studios helping to establish Hertfordshire as a global creative hub.
- Investment in Stevenage’s Cell & Gene Therapy sector, positioning the area as a world leader in advanced medicines.
- Ambitious plans to enhance digital connectivity and develop an integrated, low-carbon transport system.
Mayor Peter Taylor of Watford, Vice Chair of the Hertfordshire Growth Board, reinforced the importance of long-term infrastructure investment: “Hertfordshire is improving the speed and scale of housing delivery with two new Garden Towns on track to build 10,000 new homes each. The Herts IQ enterprise zone also offers tremendous opportunities to incentivise green investment and accelerate delivery using offsite construction. While there is much to celebrate without addressing the chronic underinvestment in infrastructure, Hertfordshire and the rest of the UK will lag behind.”
Cllr Richard Roberts, Leader of Hertfordshire County Council, said: “Hertfordshire is the county of opportunity and our world-leading sectors are key to unlocking UK growth. In order to create the optimum environment for our business and communities to thrive, we need to draw down on much-needed investment and cut needless red tape that could hamper our progress.”
Daisy Cooper, MP for St Albans and Deputy Leader, Liberal Democrats, said: “Hertfordshire is primed to be an even bigger engine of economic growth, especially as our county is a leader in the life sciences and creative industries. But having thriving high streets is also vitally important as a primary driver of building strong and inclusive local economies, and the government need to re-double their efforts to unleash the growth potential of our small businesses and high streets, in Hertfordshire and beyond.”
Delegates also heard from key sector businesses about why Hertfordshire remains such an attractive investment proposition.
Caroline Cooper, Chief Operating Officer, Sky Studios, said: “Home to Sky Studios Elstree, Hertfordshire provides fantastic opportunities for businesses like Sky to invest and support the growth of the UK’s creative industries. Most recently, our sister company NBC Universal filmed both parts of Wicked on site at Sky Studios Elstree, and we look forward to further international investment in the UK’s production landscape. We’re proud of the hub of film and TV production sites that have grown in the area, and are eager to continue to boost the UK’s creative economy.”
Ellie Junod, Global Real Assets Investment Manager, UBS Asset Management, said: “As a key hub in Hertfordshire, Stevenage has a unique opportunity to position itself as leader for Cell & Gene Therapy, not just on a national but an international basis. Working closely with local partners our investment into Stevenage, and the wider Hertfordshire area, will help catalyse this future growth.”
The reception showcased Hertfordshire’s immense potential, but unlocking this opportunity requires continued investment, collaboration and advocacy.
By joining HIDB, our members can actively contribute to championing and shaping the county’s future; helping to secure the vital infrastructure we need, create new opportunities and drive sustainable development.
Together, these voices can play a crucial role in championing Hertfordshire’s growth. Get involved and be part of the movement that ensures Hertfordshire remains at the heart of the UK’s economic success.
For more information on HIDB or to become a member, please email info@hidb.co.uk