A £221.5 million 'growth deal' for Hertfordshire could deliver thousands of new homes and jobs, support business growth and improve the skills of its workforce.

Conservative peer Lord Heseltine signed the deal, which is intended to create up to 15,000 new jobs, enable 20,000 new homes to be built and have the potential to unlock £430m public and private investment between 2015 and 2021.

Hertfordshire Local Enterprise Partnership chairman John Gourd said: "The signing marks the start of a very exciting period as we prepare to deliver on the projects outlined in the Growth Deal.

"Last year marked our most successful year to date as we secured the fifth highest settlement out of the 39 LEPs in the country.

"Thanks to our targeted and achievable strategic economic plan we went on to secure substantial further funding this year.

"Now it is time to bring home the benefits of this investment to those who live, work and do business in Hertfordshire."