Economic Development Strategy will help enable residents and businesses to prosper

Published Friday, 9 July 2021

A new Economic Development Strategy confirming the borough is open for business now and into the next decade has been agreed by the Council’s Executive.

Whilst the strategy includes plans to help support business growth following the effects of the pandemic, the Economic Development Strategy outlines a visionary plan designed to support economic growth across the borough up to 2031. 

Councillor Peter Morgan, Executive Councillor for Renewal, Recreation, “Our borough is very much open for business, not just now but also into the future and the strategy is making sure we are best positioned for the future.  Our local economy is key to how we live and we all have a role to play in helping businesses and residents prosper. I would like to thank our business partners who have already helped contribute toward this strategy.”

Councillor Yvonne Bear, Chairman of Renewal, Recreation and Housing PDS Committee said, “Over £80 million of business support grant funding has been distributed to local businesses in the pandemic.  Despite this massive support, we know the effects of the pandemic have been far reaching on the local economy. We are firmly focussed on tackling this and making sure the right foundations are in place to help businesses recover and go on to take advantage of opportunities for growth in our borough.”

The new Economic Development Strategy includes seven ambitions which are:

  1. Our residents have access to the right opportunities for skills and education that will ensure healthy employment
  2. Our businesses have access to the right employment spaces in the right places with local business clusters which encourage enterprise and facilitate sustained growth
  3. Our borough is an exciting, attractive, healthy, sustainable and welcoming place where businesses thrive, people aspire to live and visit, and new enterprises seek to invest
  4. Our town centres are places where people want to shop,  work, visit and live
  5. Our residents and business community are well connected through diverse physical and digital infrastructure networks which underpin mobility across the whole borough
  6. Our cultural and tourism industries continue to grow and diversify, and our unique historical features are promoted for the world to see
  7. Our green economy will help to sustain and advance economic, environmental and social wellbeing

The confirmation that the Economic Development Strategy is officially council policy follows earlier engagement with business groups, and stakeholders.

ENDS

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