Norfolk and Suffolk Investment Plan
Good progress is being made on delivering the Economic Strategy and Local Industrial Strategy (LIS).
Our Local Industrial Strategy was submitted for review by Government in October. However, all
Local Industrial Strategies were put on hold for the General Election. Since the General Election the
Government has renewed its interest in Local Industrial Strategies and we understand that up to
three Local Industrial Strategies will be published imminently. This is a positive sign, and given the
readiness of our plan, puts us in a good position for our Local Industrial Strategy to be published in
the next wave. In the meantime, we have published the draft Local Industrial Strategy on our
Development of Investment Plan
The next step in driving effective delivery of the Economic Strategy and the LIS is to develop an
overarching Investment Plan and update the portfolio of outputs, building on the project pipeline
that already exists.
The Investment Plan will capture the interventions that will deliver the ambitions and goals in the
Economic Strategy and LIS - projects, programmes and initiatives - which require funding.
The purpose of the Investment Plan
is to enable the LEP and partners to be in a positive position to
secure future funding when opportunities arise. It will enable us to be proactive in seeking funding
and will ensure investment is made in interventions that will deliver the desired impact rather than
funding projects just because they are ‘shovel ready’.
In many areas we will be building on existing pipelines and investment plans from local partners and
local areas. However, there will be areas such as skills, where an investment plan for the area does
not yet exist. In this case the LEP’s Skills dvisory Panel is well placed to lead on identifying and
developing the interventions to incorporate into the overarching investment plan.
The investment plan will provide details of the key interventions that will have an impact across
Norfolk and Suffolk. The plan will also signpost to the key local documents that outline local
Interventions do not have to be Norfolk and Suffolk wide
, projects will be considered and included
if they can show the scale of impact that it would achieve against the Economic Strategy and LIS
Ensuring we have a robust investment plan
will be the responsibility of the Economic Strategy
Delivery Co-ordinating Board (ESDCB) who will steer the development of the Investment Plan and its
ongoing monitoring and review, reporting to the LEP Board.
It is about the way we develop interventions.
More often or not projects and programmes are
developed on the parameters of the funding criteria which in most cases can limit what can be
We are keen to develop projects looking firstly at the objective that we are wanting to achieve and
consider all aspects of the intervention required to deliver the best outcome. To achieve the best
outcome there may be a package of projects which cover skills, business support, infrastructure,
innovation and be a mix of capital and revenue funding. Or it could be a programme that has a mix
of capital and revenue funding that could support a business to purchase capital equipment as well
as train the staff to use it as an example.
The intention is to equip ourselves with strong investment propositions which we can proactively
target funding sources, both public and private.
It is expected that interventions are developed in collaboration
and discussion with relevant
partners ensuring that the intervention delivers value for money and maximum impact. For example,
a skills related intervention should be shared with the Skills Advisory Panel and key representatives
identified to engage with the development of the intervention in not already.
A funding framework
is being developed alongside the investment plan. This will be a tool that will
help to identify the best route of funding for an intervention. It is intended to ensure we focus on
the funding streams that will give us the largest chance of success as well as enable us to speed up
the initial stages of funding identifications. This will also include funding factsheets that will
summarise national funding opportunities when they are launched which will be shared with
partners as they arise.
It will contain both capital and revenue interventions
. Capital projects included are expected to
have a minimum value of £2m capital and revenue £500K.
will only take place once a funding source has been identified. Part of the prioritisation
will be down to the parameters of the funding. If prioritisation is required, the prioritisation
framework agreed as part of the development of the Economic Strategy will be used covering -
Strategic fit, deliverability, additionality and economic impact and value for money.
It doesn’t matter what stage the intervention is at.
Interventions can be categorised as followed:
An idea for an
To submit an EoI with as
Interventions that are identified
intervention has been
much detail as possible at
as concept will not sit in the
developed but further
this stage. It is expected that
main investment plan. The
work is required to
the lead applicant will take
ESDCB will keep a watching eye
develop the details.
charge in facilitating and
on the interventions as they are
developing the intervention
being developed and will review
towards a more detailed
again once a more detailed
project outline and submit a
project outline is submitted.
completed EoI once ready
for further review and
An intervention that has
It is expected the lead
Support from the ESDCB will be
a detailed project
applicant will facilitate and
provided where appropriate to
develop the business case
help build the business case.
outline and can submit
for the intervention. It will
Projects at this stage will be
a full EoI.
be important for projects to
included in the funding scan
be in the best possible
process, which is a regular
position to secure funding.
review of what funds are
Business case in place
Lead applicant is expected to
Once a project is at this stage
and project is in a
lead on funding application
proactive action on identifying
position that it can be
once source is identified.
funding source will commence
delivered but requires
and support provided where
appropriate to secure the funds.
Intervention that has
Lead applicant will provide
ESDCB will monitor progress.
funding secured and
regular monitoring reports.
delivery as commenced.
The Investment Plan will be a living document
, this is the start of a new way of working. The
timeline on page 3 has been set out to develop the initial Investment Plan that the LEP Board will
sign off in July. But we are looking for partners and groups to continue to consider interventions in
the coming months and as and when new ideas are developed submit an EoI to the LEP for inclusion.
Approach to developing the Investment Plan
The diagram below sets out the approach and timeline for the development of the Investment Plan.
Review & Identify
Design & Publish
ESDCB to review
All Partners to identify
High-level Norfolk and
Strategy Board reviews
Suffolk Investment Plan
key investments and
the investments and
projects. Workshops to
Board to agree scope
projects identified by
and approach 29
partners and identifies
January. - up to 2036.
Call runs from
gaps in delivery 20
published following LEP
ESDCB to review IP
19 Feb - 20 March
Board in July 2020.
Dec - Feb 2020
Feb - March 2020
June - July 2020
The defining stage is now complete, and we are now seeking partners and key groups to consider and
identify the key investments that are needed to deliver the ambitions in the Economic Strategy and
the Local Industrial Strategy.
- Identify the economic strategy objectives and LIS interventions which you want to or can
help deliver. The Economic Strategy and LIS alignment reference sheet can assist with this stage.
- Consider and identify the interventions needed to achieve the best outcome, consider all
aspects using the five foundations of productivity as a guide - ideas, people, infrastructure, business
environment and places. You may identify several projects are required which could be submitted as
a package of projects. This could be done through a workshop session which the LEP will be happy to
help advise on and if resources permit support on the day. It is expected that all interventions will
also consider clean and inclusive growth.
- complete an Expression of Interest (EoI) for each intervention and submit it to
Using the template below, local partners are also asked to notify the LEP which local documents
identify local investment that will deliver towards the ambitions in the economic strategy and LIS,
submitting it to
Summary of document
Full web link
Date is was
Area it covers
which provides an
of where the
overview of what it is no
more than 150 words
can be found
Once EoIs are submitted to the LEP
a light touch assessment will be carried out using - strategic fit,
deliverability, additionality and economic impact as criteria. This assessment will confirm whether it
is an investment that will deliver against the economic strategy and local industrial strategy. During
this process, links between interventions where join up would be beneficial will be identified and the
lead applicants notified.
The assessment will be shared with the ESDCB who will make the recommendation to the LEP Board
on what interventions should be included in the investment plan as well identified gaps where
interventions need to be developed.
This will be an ongoing process.
The ESDCB meets bi-monthly and will continue to review EoIs as
and when they are submitted. They will continue to make recommendations to the LEP Board for
inclusion of interventions in the Investment Plan as an ongoing process. The ESDCB will consider the
gaps in the investment plan and will work with partners to develop interventions to fill the gaps
There are several tools that can be used in developing the interventions:
Economic Strategy and LIS alignment reference sheet
This provides a list of the Economic
Strategy objectives with a list of the aligned LIS interventions and will help with identifying
the objectives that your intervention will help deliver.
- This provides a list of the current outputs that are being used to monitor
and measures intervention delivery. The list is not comprehensive and will be expanded but
it provides a guide to help with identifying outputs when developing an intervention. The
outputs we measure have been directed by government to date. The LEP will work with
partners to develop a shared portfolio which sets out metrics, definitions and methodologies
and captures a wider breadth of outputs covering clean and inclusive growth.
developed to assist partners in assessing the contribution of a
potential project or programme to the Norfolk and Suffolk Economic Strategy and published
alongside the Norfolk and Suffolk Economic Strategy. This will be used to prioritise projects
when required. It will also be used to help test if a project meets the minimum requirement
to sit on the investment plan.
Inclusive Growth Toolkit
designed to be used by public sector practitioners to help
maximise the inclusive growth potential of interventions and investment. Published
alongside the Norfolk and Suffolk Economic Strategy.
Economic Indicator Guidance
-This user guide is aimed at anyone interested in
understanding the ambitions and indicators in the Economic Strategy and how they are
defined, monitored and reviewed.
If you would like to discuss the development of an intervention, require support or
have any questions please email
Expression of Interest - Norfolk and Suffolk Investment Plan
The EoI below provides guidance on what information is required in each section.
Summary of project or programme details
What is the intervention called?
(To be completed by LEP)
Has it been known by a different
name in the past if so please
Use codes on ES and LIS
Which Local Industrial
Use codes on ES and LIS
alignment reference sheet.
will it help deliver?
will it help deliver?
Summaries the project in 150 words - what is the key activity, what will it deliver
and what is the total cost.
Once this intervention has been delivered what is the expected impact?
What will the intervention deliver? Use outputs portfolio for reference include
others it will deliver additional outputs not included in portfolio.
High level timeline
Outline stages of delivery
Concept / in development/ full
including dates or Q1 2021, Q2
business case developed /in
delivery requires next stage
funding - see bottom of page 2
guidance note for definitions.
Will this intervention help deliver, complement or rely another intervention?
intervention link to
Please provide intervention name and a short description on the link.
Name of lead
Please include Name of lead individual,
email, phone &no/
Please provide a list of partner organisations engaged with the intervention.
Area the project
Please provide location of the intervention and outline how for the impacts of the
intervention will be delivered.
Outline how the
To include a short summary:
intervention will meet
Of how the intervention directly support the ambitions in the
the ambitions set out
in the ES and LIS.
What new economic growth will be delivered.
What the rationale for public intervention (where this is proposed) i.e.
market failure or distributional impact. Or should it be funded by
Outline how the
Provide bullet points on the key activities that will deliver the selected
objectives and interventions.
deliver the selected ES
objective and LIS
How will this
Indicated how the intervention will take account of the clean growth ambitions
set out in the LIS.
deliver the areas Clean
What is the evidence
Provide a short narrative summarising the evidence indicating any reports or
of need for this
specific data that supports the case for need.
What would the key
Bullet point questions that the evaluation of the intervention would need to
consider and answer to assess impact of the intervention.
be once the
intervention has been
delivered which would
help to assess its
Anticipated start &
What is the date the intervention will start delivering if known? If dates are
unknown, please indicated the duration of the intervention e.g. 18 months
Are there any consents or approvals such as planning permission need? If yes
please state the stage they are at and any key dates.
What consideration has there been to ensure the investment would continue
beyond initial funding.
Are there any risks
e.g. cost of construction, change in demand, landowner conflicts
regarding the project?
How will this
Please provide a short narrative on each that are relevant, refer to the LIS for
local context of each.
against the five
Will / could the
Please outline how much and where the investment would come from?
How will this project
Outline what the inclusive growth contribution of the intervention will and
how you have assessed it?
Summary of project
Summary of funding
Total project cost:
If you have any questions relating to completing this for please either send an email to the above
address or call Marie Finbow - 07788280214 or James Allen - 07392091336.