In our Hidden Gems series, we’re focusing on regions with lesser-known yet spectacular investment opportunities. Today, we’re featuring Hertfordshire, where we discuss with Melanie Miller, Inward Investment Manager, the unique aspects that should make this county a hot destination for investors and developers.

UKREiiF: Melanie, Hertfordshire is recognised for its economic contribution. Could you shed some light on this?

Melanie Miller: Absolutely. Hertfordshire is a key player in the UK’s economy, contributing around £46 billion annually to the GDP. We’re known for our vibrant and diverse scale-up clusters, holding a top position in the UK for pipeline growth density. With a presence in all five of the UK’s key wealth-building sectors, we offer a broad spectrum of investment opportunities.

UKREiiF: What distinct advantages does Hertfordshire provide for investors and developers?

Melanie: Hertfordshire’s proximity to London and international markets, as well as other parts of the UK, means investors get the best of both worlds. Additionally, being in the Golden Triangle enhances our strategic importance with links to centres of academic and research excellence in Oxford, Cambridge, and London. Taken together, this makes us an attractive investment destination.

UKREiiF: How does Hertfordshire stand out in terms of investment costs and opportunities?

Melanie: Hertfordshire is a very diverse county, and the investment offers and opportunities vary across each district. In some areas, it can offer both space and specialisation, whetting the developer’s appetite. In other areas, it is the cluster effect, which is a big magnet for further investment. And of course, we are still relatively affordable in comparison to London in terms of commercial land values and homes, which makes us a compelling option for investors.

UKREiiF: What sectors in Hertfordshire are particularly promising for investment?

Melanie: We’re seeing substantial growth in life sciences, particularly cell and gene therapies, film and TV, and, of course, sustainable construction.

UKREiiF: How does Hertfordshire support the growth of businesses?

Melanie: We want to make it as easy as possible to start up and scale up. We are already a major exporter of globally significant services and products, so it is how best we can support that innovation pipeline from early-stage right through to manufacturing here in Hertfordshire. We have all the elements in place to support that growth journey, such as access to investors, finance, talent, mentorship, knowledge exchange partnerships via our University and research institutions, etc. Alongside that, our local authorities are actively unlocking growth through integrated transport systems, improving digital connectivity in both rural and urban communities, and accelerating the delivery of good-quality, affordable homes. These are all strong pull factors for businesses.

UKREiiF: Can you share success stories of businesses or investors who have benefited from investing in Hertfordshire?

Melanie: Certainly. There are ‘live’ investment stories such as the Elevate Quarter, which will bring forward 1.6 million sustainably led life science facilities, cementing Hertfordshire’s position as the home of cells and genes. We have multiple success stories of businesses thriving in our county. Our ‘Doing Business Well’ panel discussion at UKREiiF will highlight some of these achievements, showing the growth journey of businesses in Hertfordshire.

UKREiiF: What should attendees expect from Hertfordshire at this year’s UKREiiF?

Melanie: We are launching our new Invest Hertfordshire service, which will connect prospective investors and developers to the key opportunity sites in Hertfordshire. Come and talk to Team Hertfordshire at Stand J30 in the Royal Armouries Hall, and come along to our panel discussion to hear why we are becoming a leading destination for innovation and investment. We see UKREiiF as just the start of the conversation!

UKREiiF: Thank you, Melanie. We’re all excited to see what Hertfordshire has in store for UKREiiF. See you in May!

Melanie: Definitely, I’m eager as well. See you all at UKREiiF in Leeds in 2024!

Melanie Miller, Inward Investment Manager, Hertfordshire Local Enterprise Partnership