The Programme for Updating the Economic Development Strategy for the Vale and Seek Any Input at This Stage in the Process
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APPENDIX D Agenda Item No. 7 THE PROGRAMME FOR UPDATING THE Chief Executive ECONOMIC DEVELOPMENT STRATEGY FOR AYLESBURY VALE 1 Purpose 1.1 To advise the Economy Scrutiny Committee of the programme for updating the Economic Development Strategy for the Vale and seek any input at this stage in the process. 2 Recommendations 2.1 The Scrutiny Committee are asked to highlight any particular issues it feels needs to be addressed in the economic development strategy and delivery plan or in the proposed consultation process. 3 Supporting information 3.1 We now need to update the ED strategy and associated delivery plan to identify the longer term strategic vision for the economic development growth of the Vale and set out very clearly the challenges and opportunities that we need to progress. The EDS will be set in the context of the existing Vision for Aylesbury Vale; the sub-regional and regional planning guidance; the regional and Buckinghamshire economic strategies and the emerging Local Development Framework for the Vale. 3.2 The ED Strategy will need to be delivered by all key partners. It will also help to improve co-ordination between agencies with responsibility for economic development in the Vale. 3.3 As Members will be aware, the draft South East Plan proposes a new target job growth figure for the Vale of 21,500 additional jobs by 2026. From 2006, this averages as an annual growth of 1,075 additional jobs and therefore sets the new target for the Aylesbury Vale economic development strategy. 3.4 The Aylesbury Vale strategy will establish the framework and lead the way for the local action here in the Vale. SEEDA, the Regional Development Agency have recently finalised the Regional Economic Strategy (RES) and also their corporate plan, which identifies the main activities and programmes to support delivery of the economic growth of the region, including the identification of Aylesbury Vale as one of the strategic growth locations in the South East. The RES has three key objectives: • Global Competitiveness – investing in success through promoting international trade and inward investment, encouraging R&D and innovation, and investing in infrastructure; • Smart Growth – Lifting underperformance, through promoting business formation, increasing skills and economic activity, improving transportation, building more affordable homes and redeveloping previously unused land; D1 • Sustainable Prosperity – Supporting quality of Life, through reducing carbon emissions, waste and water usage, promoting renewable energy sources and increasing biodiversity and the quality of life, including greater social cohesion 3.5 The Buckinghamshire Economic and Learning Partnership (BELP) are also in the process of updating the economic strategy for the county. As the county has a diverse economy, with a wide range of issues to be addressed across the area, the Aylesbury Vale EDS will in effect detail the activity for this part of the County and feed into the countywide strategy. 3.6 The Aylesbury Vale EDS will also reflect the opportunity provided by the current consultations on the proposed Innovation and Growth Teams for the South East by SEEDA and the Central Government Consultation on the Sub National Review. The EDS must also demonstrate the relationship with other strategies and programmes including AVDC’s Corporate Plan, the Bucks Strategic Partnership, the Local Area Agreement, the Marketing and Communications Strategy, Tourism Action Plan and the Aylesbury Vale Local Strategic Partnership. Research Base 3.7 There are a number of important documents that will be used to help provide the evidence base for the update to the EDS including: • MKSM Sub Regional Strategy and the draft South East Plan • SEEDA’s RES • Bucks ED Strategy • Draft Rural Strategy and Action Plan for Bucks • Employment Land Study – 2008 Update by Roger Tym & partners • Emerging Local Development Framework • Evidence and statistics from key sources eg ONS/NOMIS; Business Link and Aylesbury Vale Enterprise Hub • Various skills reports 3.8 Attached as Appendix 1 is an outline economic profile of the Vale and the key characteristics of the existing economy, using information from the 2008 Aylesbury Vale Employment Land Study carried out by Roger Tym and Partners. Process of Approval 3.9 Engaging with existing business, as well as other key stakeholders is an important element of developing the strategy and delivery plan and this needs to be factored into the process to help ensure that it has credibility, and also sets out very clearly how we are planning to deliver on the ground. 3.10 From the District Council’s perspective, the EDS is part of the policy framework and therefore needs to be approved by Cabinet and ultimately Council, and ensuring that the Economy Scrutiny committee have also been actively involved. 3.11 The AVA Board will be an important stakeholder and will need to contribute to and approve the new strategy, which needs to be integrated into their business plan. Regular reports on progress made with the delivery plan will need to be made to AVA, AVDC and other stakeholders. D2 3.12 The important points to highlight from the economic profile are: • High levels of entrepreneurship – rural areas contribute significantly to this • The Vale has average numbers of jobs in knowledge based industries – but not as high as other areas close by, eg M40 corridor • A significant number of existing jobs in the Vale are in the public administration, education and health sector. The proportion of jobs in this sector in Aylesbury Vale is above the South East average • Skills in the district are about the same as the South East average – but not as strong as some neighbouring areas • The Vale is a net exporter of labour – main out commuting destination is Milton Keynes • There is market potential for a significant increase in the take-up of new industrial/warehouse space in Aylesbury Vale • There are supply deficiencies for modern space throughout the District, and this is especially outside of Aylesbury town, and for strategic warehousing close to the A41 • If more land was identified in attractive locations in the District, it would be readily taken up • Aylesbury has suffered for some time from a lack of good quality office supply • Aylesbury Vale’s is a broad-based economy with no obvious specialist strengths (or indeed specialist weaknesses) • The proposed growth and new employment allocations to be made under the LDF process offer a great advantage over many other areas. Key issues to be addressed in the Economic Development Strategy/ Delivery Plan 3.13 The most fundamental issue that the new EDS must address is to clearly establish and articulate the overall ambition for the future economy of the Vale and how we are planning to achieve the level of employment growth required. We also need to be clear about exactly what needs to be done to create the best conditions to enable this employment growth to take place, ranging from the allocation of sufficient land, through to managing transportation challenges and creating all the right conditions for business growth. It will also provide the framework for securing contributions and activity from other partners to help deliver the activity required to achieve the vision for developing the economy. 3.14 The associated delivery plan needs to demonstrate the link between the ambition; how this will be achieved, by when and who is responsible for taking this forward. It will also include an employment trajectory, which will estimate the timing of when the new employment sites are likely to be developed. 3.15 It is suggested that the Vale’s economy should be based around creating a thriving entrepreneurial business culture by continuing to help grow and expand existing business; supporting new start ups and attracting a few D3 significant larger employers to generate the range of jobs required. The role and contribution of the rural areas to the local economy should also feature as a key element. 3.16 It is important to note however that we are not starting from a blank sheet – we already have number of projects that provide a solid foundation on which to build the new plan around and a number of these are listed in Appendix 2. 3.17 Whilst we do not want to pre-empt the outcome from the consultation process, it is likely that the updated strategy and delivery plan will continue to focus activity on the main themes of supporting new start ups, assisting existing employers and attracting a few major employers The Proposed Programme to develop the ED Strategy and Delivery Plan 3.18 In order to take this work forward and develop the strategy and delivery plan, there are a wide range of partners and stakeholders that need to be involved. It is proposed that we carry out a consultation exercise to involve key businesses and other partners, to seek their comments and views. The outline programme for this activity is as follows: Initial discussion at AVDC’s Economy Scrutiny Committee 10th December 2008 Consultation with key businesses and partners January- February 2008 Draft ED Strategy & delivery plan considered by AVDC’s Cabinet 13th January 2009 Draft ED Strategy and delivery plan considered by AVDC’s 20th Jan 2009 Economy Scrutiny Committee Report back to AVDC’s Cabinet 10th February 2009 AVDC’s Council considers ED Strategy and Delivery Plan 25th February 2009 Finalise and Publish Strategy and Delivery Plan By end of March 2009 Monitoring and progress reports Six monthly 3.19 As the ED Strategy is a policy framework document, Cabinet’s initial proposals will be reported to economy scrutiny for comment, which must be considered by Cabinet before the final document is recommended to full Council for approval. Sub National Review of Economic Development and Regeneration 3.20 In the summer of 2007 the Government published its review of sub-national economic development and regeneration.