Decision details

Considered – A report of the Corporate Director for Community Development presenting the Economic Growth Strategy 2024-2029 for the Executive’s consideration and recommendation to Full Council.

Councillor Derek Bastiman introduced the report and draft Strategy recognising the hard work undertaken by officers to develop the Strategy in such a short time since the formation of the new Council. He drew specific attention to the three pillars on which the Strategy was built – Enterprise, Infrastructure & People and provided a brief overview of those pillars and their associated priorities.

Members notes the Strategy had evolved over a period of time and provided a clear pathway forward for the Council but recognised the Authority would need future financial support to enable the Strategy to be delivered in full.

Councillor Paul Haslam acknowledged the Strategy showed merit and ambition but suggested it would benefit from the inclusion of information on:

·          retrospective growth to understand how the economy has grown in key areas in the last five years;

·          what the 5-year expected growth figure was if a) the authority did nothing or b) it carried out the investments it wanted to do; and

·          what the value added would mean for urban centres, market towns, rural areas and coastal communities in order to understand where investment would achieve the most

David Caulfield - AD Economic Development, Regeneration, Tourism & Skills, welcomed the feedback and in response confirmed the Strategy was underpinned by a substantial evidence base that would provide the facts and figures to demonstrate where the Authority had come from and where it wanted to go to.

Members thanked officers for their work on the Strategy and it was

Resolved – That:

i)       The Economic Growth Strategy 2024-2029 be approved

ii)    The Strategy and action plan that flowed from it be agreed and reviewed annually, to ensure it reflected the prevailing economic conditions and wider opportunities that may arise.