Economic Strategy 2022

The Council will drive the delivery of the strategy through a collaborative approach with partners that pulls everyone in the same direction and makes the most of shared resources. An action plan will accompany the strategy with a number of specific schemes that will be led, directed or facilitated by the Council to enhance delivery.

Innovation hubs 

Council-directed thematic, intelligence-led forums where organisational leaders will come together around a specific agenda (e.g. skills and training) to commit to actions to be delivered collaboratively, with allocated funding/resource if needed.

Knowledge transfer partnerships 

Council-facilitated business to business collaboration to share sector learning or best practice e.g. sustainable operations and the green agenda. Could be two large businesses working together or groups of businesses with a similar challenge.

Business events and awards 

In addition to networking and engagement forums and following a long period of limited activity due to Covid, there may be a desire to review and reinvigorate a focused programme of events that has clear objectives in line with the aspirations of the strategy. Given the impact of Covid on the business sector, consideration may be given to an awards or celebration type event. 

Employability services 

Council-led employability services that are integrated into public service pathways and targeted to support key areas of the borough. Supporting those farthest from the workplace and providing clear pathways to skills and employment through a range of council and partner services including advice, training and apprenticeships.

Business advice and engagement 

Council-led structured business engagement and intelligence gathering to understand needs and inform tailored solutions. This could be direct support and advice to individual businesses, or sector wide interventions. Current grant schemes will be reviewed to fit with strategic objectives.

Investment 

UKSPF themes are common to those identified locally.  The investment plan would complement priorities and delivery plans with an emphasis on working in partnership to achieve improved outcomes for the borough.

Given the changing nature of the economic climate and emerging challenges, this will be a 3 year strategy reviewed in 2025.