To obtain approval for the proposed approach to the formation of the Herefordshire Investment Partnership highlighting the suggested structure, scope, and responsibilities. 

The formation of the Herefordshire Investment Partnership (HIP) will provide the council with a mechanism to engage with key partners involved in the delivery of major regeneration and infrastructure projects.  Specifically projects that are included within the Herefordshire economic vision.  In addition, the formation of the HIP will provide the council and partners with an element of private sector experience and opinion prior to project implementation.

The Economic Vision has been adopted by the council as the county’s economic development strategy.  Gaining private sector experience and opinions prior to implementation of the various regeneration projects will assist in the successful delivery of the economic vision.  A dedicated board is required to provide a mechanism where these views can be shared with the council.  It is envisaged that the proposals will make a significant contribution to the regeneration of the county.