East Suffolk Economic Growth Plan, 2018-2023 Contents

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East Suffolk Economic Growth Plan, 2018-2023 Contents East Suffolk Economic Growth Plan, 2018-2023 Contents Foreword Page 02 Map of East Suffolk Page 03 At a glance Page 04 East Suffolk – in numbers Page 06 Profile of East Suffolk Page 07 Summary SWOT analysis Page 10 Strategic context for the refreshed Growth Plan Page 13 East Suffolk Economic Growth Plan, 2018-23: Vision and Strategy Page 16 Key sectors Page 19 Place-based and regeneration priorities Page 24 Delivering the Plan Page 28 Measuring progress and KPIs Page 30 Annex A: Looking back – and projecting forward Page 32 Foreword I am delighted to present the new East new strategy also demonstrates that by Suffolk Economic Growth Plan – a crucial investing in the foundations of a successful document at a critical time, reflecting our and growing economy such as transport commitment to the delivery of a flourishing and communications infrastructure, skills and healthy local economy. development and business support and finance we can fully exploit the growth Promoting economic growth is one of the opportunities across East Suffolk in the central pillars of the East Suffolk Business coming years. Plan. In order to create the best environment for businesses to start up, flourish and East Suffolk is a strong and dynamic grow we need a clear and robust approach economy with a wide range of opportunities to facilitating economic growth. This for future growth and the new East Suffolk refreshed growth plan sets out clearly Economic Growth Plan sets out the how East Suffolk Council and its partners framework to achieve this growth for the will achieve this through maximising our benefit of our residents, communities and competitive advantage in key sectors such businesses. as energy, ICT, tourism and logistics. The Steve Gallant Leader, East Suffolk Council Foreword 0402 Minutes to Norwich by car Minutes to Norwich by car Minutes to Norwich by car Minutes toMinutes Norwich to Norwichby car by car Lowestoft Port Lowestoft Port OffshoreLowestoft Port RenewablesLowestoftLowestoftOffshore Port Port Minutes to Norwich by car RenewablesOffshore OffshoreRenewablesOffshore LowestoftRenewablesRenewables Port Offshore Map of Renewables East Suffolk Lowestoft Lowestoft Lowestoft LowestoftLowestoft ungay eccles ungay eccles Lowestoft ungay eccles ungayungay Kessinglandeccleseccles CEFAS Kessingland CEFAS Kessingland CEFAS ungay ecclesKessinglandKessingland CEFASCEFAS Kessingland CEFAS Halesworth Southwold Halesworth Southwold Halesworth Southwold HalesworthHalesworth SouthwoldSouthwold Walberswick Walberswick SouthwoldWalberswick Halesworth WalberswickWalberswick Dunwich Dunwich Dunwich WalberswickDunwichDunwich Saxmundham Sizewell Dunwich Saxmundham Sizewell Framlingham Saxmundham Sizewell FramlinghamSaxmundhamSaxmundham SizewellSizewell Framlingham Sizewell FramlinghamFramlingham Sizewell Sizewell Saxmundham LeistonSizewell SizewellSizewell Wickham Leiston Framlingham Wickham Leiston Market Wickham LeistonLeiston WickhamWickhamMarket Sizewell Market Aldeburgh MarketMarket Aldeburgh LeistonAldeburgh Wickham AldeburghAldeburgh Market Aldeburgh Woodbridge KEY Woodbridge KEY Woodbridge Road NetworkKEY WoodbridgeWoodbridge KEYKEYRoad Network Road Network Rail NetworkRoad RoadNetwork Network Woodbridge KEYRail Network Adastral Park Rail Network Martlesham Adastral Park RoadRail Network NetworkRail Network Martlesham Adastral Park Key Economic Asset MartleshamAdastralAdastral Park Park Key Economic Asset Kesgrave MartleshamMartlesham Key Economic Asset Kesgrave TownRail NetworkKey EconomicKey Economic Asset Asset Kesgrave Town KesgraveKesgraveMartlesham Adastral Park Town RenewablesKey EconomicTownTown Asset Port of Renewables Kesgrave Port of FelixstowePort of Renewables Felixstowe PortFelixstowe Portof of PlaneTownRenewables LinksRenewables Felixstowe Felixstowe Plane Links FelixstoweFelixstoweFelixstowe Plane Links FelixstoweFelixstowe Port of TrainRenewablesPlane LinksPlane Links Links 70 Minutes to London Train Links Felixstowe Train Links 70 Minutes to London Felixstowe 70 Minutes to London AreaPlane Trainof Links outstanding TrainLinks Links 70 Minutes70 to Minutes London to London natural beautyArea of outstanding naturalArea of beautyoutstanding TrainArea Links ofnaturalArea outstanding of beautyoutstanding 70 Minutes to London Beachesnaturalnatural beauty beauty Beaches Area of outstandingBeaches 6 Minutes to Stanstead by car Thenatural BroadsBeaches beautyBeaches 6 Minutes to Stanstead by car The Broads 6 Minutes to Stanstead by car The Broads 6 Minutes6 Minutesto Stanstead to Stanstead by car by car BeachesThe BroadsThe Broads 6 Minutes to Stanstead03 byMap car of East Suffolk The Broads At a glance... East Suffolk has major economic, cultural, heritage and environmental assets. Parts of East Suffolk are set for significant growth. However, there are also on-going regeneration challenges. Through this Economic Growth Plan, we will ensure that across East Suffolk, businesses and communities are able to thrive. Our Strategy Priority 3: Attracting inward investment to East Suffolk, focused around existing and In uncertain economic times, we want to use emerging sectors and supply chains our Economic Growth Plan to build business confidence – and with it, both the capacity East Suffolk is a major international gateway. and ambition for investment and growth. It benefits from assets that are already world- With greater business confidence, better renowned (e.g. BT’s activities at Adastral opportunities will be created for the people Park) and/or fast gaining recognition (e.g. and communities of East Suffolk. This in turn Cefas at Lowestoft, cultural activities across should allow more people to enjoy a higher East Suffolk). We will promote East Suffolk quality of life in an outstanding environment. in order to attract international investment, developing sectors and supply chains in the We will achieve this by focusing on three process and creating opportunities for main priorities: local people. Priority 1: Supporting entrepreneurs and Key Sectors entrepreneurship in East Suffolk In delivering our strategy, we will pay East Suffolk’s economy is dominated by particular attention to the opportunities and micro and small enterprises, and we want potentials that exist in seven key sectors: more of them to thrive. To achieve this, we want to provide appropriate workspace and • Agriculture, food and drink premises, equip small business owners/ managers with the skills they need, and • Energy enable small businesses to access the support that is available more generally. • IT, tech and digital creative Priority 2: Encouraging established • Manufacturing and engineering businesses to invest and grow • Marine We want our established and medium- sized businesses to invest and grow. To • Ports and logistics this end, we will work closely with these firms to understand better the risks they are • Visitor economy and cultural sectors facing and to inform investment decisions accordingly. These are likely to focus on issues relating to skills and labour supply, infrastructure (including digital connectivity), and access to markets. At a glance 04 Key Places Delivering the plan We will have regard to the particular Our economic ambitions can only be characteristics of our places. We intend to achieved by working together with businesses sustain existing communities and support and other stakeholders and partners. Within new ones – and to effect regeneration whilst East Suffolk Council, we need to build on PRODUCTIVITY 2017 TOTAL POPULATION also accommodating growth in more buoyant excellent “core services” to ensure a joined-up areas. Our priority places are: approach to economic development. In this £40,000 246,900 context, we will need to continue to secure COMPOUND ANNUAL IN 2017 • Lowestoft external funding to help deliver this Economic GROWTH RATE 2001-2017 Growth Plan and lever in wider investment. 0.9 • Adastral Park/Martlesham Through this, East Suffolk Council will be an COMPARED WITH POPULATION GROWTH SINCE 2001 “excellent partner to do business with”. NEW ANGLIA LEP 38,000 0.8 EAST SUFFOLK 6. • Felixstowe NEW ANGLIA LEP 11.5% Through the use of Key Performance K 44,000 0.7 UK 11.1 • Sizewell Indicators, we will monitor our progress in Source: Cambridge Econometrics EEFM (2016) Source: ONS Population Estimates relation to the East Suffolk Economic Growth • Market and coastal towns Plan. A Delivery Plan will be developed to galvanise the use of resources in response. WEEKL EARNINGS FOR FLL • Rural areas 88.7% MICRO TIME EMPLOEES 2017 ENTERPRISES 9,300 RESIDENT WORKPLACE ENTERPRISES 9.7% SMALL EAST SUFFOLK £515 £500 ENTERPRISES FORMER £460 £430 1.2% MEDIUM EQUIVALENT TO WAVENEY ENTERPRISES 1 FORMER OF ENTERPRISES ACROSS SUFFOLK COASTAL £570 £570 0.3% LARGE THE NEW ANGLIA LEP ENTERPRISES NEW ANGLIA LEP £510 £500 Source: ONS UK Business Counts Source: ONS Annual Survey of Hours and Earnings East Suffolk figure is average of former Waveney and former Suffolk Coastal TOTAL GVA 2017 HIGEST ALIFICATION LEVEL OTAINED FOR POPLATION AGED 16-64 £4.4bn LEVEL 4 LEVEL 3 LEVEL 2 LEVEL 1 OTHER NONE IN 2011 CONSTANT PRICES % OF EAST SUFFOLK 30 19 18 20 6 7 EQUIVALENT TO POPULATION 2016 15% % OF NEW ANGLIA LEP 31 19 19 15 8 8 OF NEW ANGLIA LEP’s GVA POPULATION 2016 EAST SUFFOLK PERCENTAGE POINT 5.4 3.7 -2.4 5.7 -1.3 -11.2 Source: Cambridge Econometrics EEFM (2016) CHANGE 2005-16 Source: ONS Annual Population Survey MEDIAN PROPERTY EMPLOYMENT RATE: PRICES 2016 POPULATION AGED 16-64 IN WORK FORMER ENGLAND FORMER SUFFOLK 79 EAST SUFFOLK WAVENEY COASTAL
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