Agenda item

This paper sets out changes both to the economy and the Government’s economic and finance policy since the publication of the Council’s Economic Strategy 2010 – 2026, which impact on the support available to local people and businesses in creating and sustaining jobs. It is based on recent research published in May 2011.

The Economic Enterprise & Business Development Manager introduced this item to the Panel. He explained that the format of the report forms a potential skeleton of the Cabinet paper that they will receive in November. He highlighted that there was a risk that without intervention, at current levels of economic performance, the Council will not create the level of job growth that is planned for by the Core Strategy. He added that the area’s current economic performance shows that if it continued into the future at current rates that not enough jobs, particularly of the target quality, will be created for local people.

He also wished to set out some real strengths of the area and potential future actions.

Strengths

·  A highly skilled workforce, with world class Higher Education provision focussed on growth sectors

·  Clusters of highly productive businesses, many of them identified as key sectors in driving the UK’s economic recovery

·  Public sector and tourism jobs providing a backbone to the local economy and a steady flow of income somewhat protected from recession and international competition

·  Once they start, very good business survival rates indicating a strong underlying economy

Potential future actions

·  Ensure the District has an attractive profile and strong competitive identity to attract inward investment in accordance with the Bath and North East Somerset Economic Strategy

·  Ensure there is a regulatory, finance and support environment which enables existing businesses to develop and grow

·  Ensure there is sufficient and appropriate employment space available for local job creation, building on the opportunity of the Bath Enterprise Area but also focussed on local neighbourhoods outside Bath

·  Ensure there are sufficient and appropriate homes built to provide accommodation for people taking up these new jobs as set out in the Core Strategy, including university graduates

·  Ensure that the transport, communications and cultural infrastructure supports the delivery of the above

Councillor Barry Macrae commented that he felt that most of the important issues were covered within the report and he urged that Cabinet to carry out the implementation as soon as possible.

Councillor Paul Fox commented that he acknowledged that something needs to be done and said that any growth must be sustainable. He called for key employment space / business accommodation to be identified and asked what the Council could do to aid this. He also stated that B&NES should not have an inferiority complex regarding Bristol and the LEP as it should be seen as an opportunity.

The Chairman commented that he felt that sites should be identified so that businesses can have the ability to expand.

Councillor Patrick Anketell-Jones commented that taking forward proposals for a creative/digital “hub” workspace for co-location of creative companies was a sound proposition for the future.

Councillor Steve Hedges commented that he felt that the report should be written with more confidence. He also called for the former Clark’s site to be promoted further as part of the solution.

Councillor Paul Fox stated the need for Bath to get itself onto the Cities Map as they are seen as the drivers for growth.

The Chairman commented that mobility and public transport were both important issues that should be considered. He added that the Panel should also have a role in how money in relation to the New Homes Bonus is spent.

The Strategic Director for Development & Major Projects commented that the Government currently sees the West of England and Bristol as a priority. He called for the Council to be bold and to make the relationship work by showing them a credible offer of our own.

The Panel RESOLVED to commend the report to the Cabinet.