Gatwick 360° the Coast to Capital Strategic Economic Plan 2018-2030
Total Page：16
File Type：pdf, Size：1020Kb
Gatwick 360° The Coast to Capital Strategic Economic Plan 2018-2030 East Surrey Croydon Gatwick 36 West Sussex Greater Brighton 1 Contents 02 Chairman’s Foreword 03 Introduction by the Chief Executive 1 04 The opportunity 10 Our competitive advantages 2 13 London Gatwick airport – a national asset 14 Gatwick – engine for growth 15 Our economic vision 16 Our economy at a glance 18 Eight economic priorities 3 20 Taking a lead 22 Priority 1: Deliver prosperous urban centres 26 Priority 2: Develop business infrastructure and support 30 Priority 3: Invest in sustainable growth 34 P riority 4: Create skills for the future 38 Priority 5: Pioneer innovation in core strengths 42 Priority 6: Promote better transport and mobility 46 P riority 7: Improve digital network capability 50 Priority 8: Build a strong national and international profile 54 Our economy 4 56 Economic Output 57 The labour market 57 Skills 58 Wages 59 Business makeup 62 Our economic challenges 5 65 Infrastructure 67 Business environment 69 Places 71 People 72 Ideas 6 74 Sector analysis Foreword Chairman's I am lucky enough to have been born a home and build their lives and brought up in Surrey, and to have in this desirable area. Through spent much of my business career strong leadership we can build working in the Coast to Capital area. a stronger identity, so that we get This is a marvellous place which the recognition we deserve as a major inspires huge passion and loyalty part of the UK economy alongside from everybody who lives here and the rest of the South East. knows it well. Addressing these challenges will I am proud to have served on the require engagement and commitment Coast to Capital Board since 2012 and from the business community and to have been Chairman since 2016. local political leaders. We can see I am very well supported in my role, from other parts of England how a and would like to thank the Chief strong vision can build confidence in Executive and his team, and our many the future and attract investment partners in business, education and in the local economy, delivering a local government who have played broader business base and higher such important parts in developing productivity. It is noteworthy that if this Strategic Economic Plan for the our economy had grown since 2009 at whole area. the same rate as the Enterprise M3 Gatwick 360˚ is an exciting plan for Local Enterprise Partnership then it our future: a vision for taking our would be £3.1 billion (6.2%) bigger economy to the next level. Our area than it is now. This encapsulates both clearly starts from a very strong our challenge and our opportunity. place, being the 7th largest local We believe that our vision will economy in England. With our close this gap, bringing wealth to all established and emerging strengths our towns and cities based on the in different business sectors, we offer success of a strong and growing enormous potential to the future UK Gatwick airport as the beating heart economy. But we also acknowledge of our area. We aim to optimise our that our area is not currently economy and to make it central performing as well as it should. to the delivery of the Government’s Through this plan we aim to Industrial Strategy. address some of the major issues The next step is to begin our which have slowed our overall growth. discussions with Government to turn We need to provide more business this plan into a reality. Alongside local space so that our innovative and government, education and business, successful companies can grow. Coast to Capital will be proud to We aim to provide more highly skilled lead this work and help to realise the jobs in our area, to meet the potential undoubted economic potential of of our impressive workforce so that our wonderful area. they can be fully productive. We want a local economy which generates Tim Wates enough wealth for people to buy Chairman Coast to Capital Local Enterprise Partnership 4 the Chief Executive Introduction by In 2014, our first Strategic Economic There is momentum building in Plan provided the platform for much- the English cities that make up needed investment in our area. the Northern Powerhouse and the But a fresh look at our approach is Midlands Engine, as well as in needed. Widespread changes in the other areas such as Bristol-Bath, national and global economy, and the Woking and Guildford, Basingstoke, Government’s resulting Industrial Reading and the new Cambridge - Strategy, make this the right time Milton Keynes - Oxford corridor. to take stock of the state of our own We have no intention of losing any economy. Developed in close more ground. With this plan, we consultation with partners across intend to join other areas that are our area, our new plan reflects taking a lead. shared local ambitions in a simple Coast to Capital, as an and coherent way. organisation, is well-placed to Gatwick 360˚ is a direct deliver this vision. Since our creation acknowledgement of London Gatwick in 2011 we have provided strong airport’s place at the geographical leadership to improve the economic and economic heart of our area. performance of our area. We have Gatwick fuels business, attracting an established board with employers, generating jobs and experienced members drawn from driving commerce from Croydon the business community, senior through Surrey to Brighton and political leaders and eminent across West Sussex and our coastal representatives from the education towns. Gatwick is vital to London’s sectors. We have a good track record economy and to the UK’s place in an of delivery, with project investment international trade environment, of more than £300 million across our especially as we prepare to leave the area through the Government’s European Union. Gatwick links us Local Growth Fund. to global markets and will help Coast to Capital is an ambitious deliver the right trading conditions place, with the potential to make a for businesses across London and strong contribution to the growth of the wider South East. the UK economy, to innovation and But, viewed alongside similar creativity in business, and to the areas of England, our current UK’s role as a leading international economic performance gives some trading nation. Our Strategic cause for concern. While others have Economic Plan is a statement of pushed on, our area has still not clear ambition and action toward recovered from the drop in output 2030, as we prepare to negotiate our following the 2009 economic crash. Local Industrial Strategy with Instead, we have become over- Government in the coming months. reliant on the London labour I hope you will join in our efforts market, with ever-rising numbers of to deliver our exciting plan. commuters pushing rail infrastructure to its limits. House prices are Jonathan Sharrock amongst the highest in England, Chief Executive and the rush to meet demand is Coast to Capital seeing the conversion – and loss – Local Enterprise Partnership of much-needed business space. 5 Gatwick 360˚ / Chapter 1 TheThe pppp rtunityrtunity Gatwick 360˚ / Chapter 1 The opportunity Conversations about regional With a total population of two million, economic growth tend to our area boasts a strong economy start with the city regions. worth £50.7 billion gross value added Metropolitan identities, large (GVA), making us the seventh scale economic needs and largest local economy in England powerful political influence in 2016. Table 1 below shows the drive the debate about the contribution that different towns and primary role of cities in driving areas make to this total, as well as the national economy. the trend towards higher productivity in those closest to Gatwick airport. The Coast to Capital area does not fit the template. Rather than a single identifiable city region, Table 1: Coast to Capital GVA by local authority area it is a network of functional Local authority GVA (£m) Labour Productivity economic hubs. Each has its own distinct sense of identity, offering a powerful draw for businesses, Croydon £7,727 £20,212 entrepreneurs and visitors from London, across the UK and the rest Brighton & Hove £7,349 £25,407 of the world. Crawley £4,977 £44,691 Many major international brands have their UK bases here, including Reigate and Banstead £4,302 £29,538 American Express, Virgin Atlantic, Nestlé, Body Shop and Canon. Mid Sussex £3,622 £24,623 There are numerous planned Horsham £3,573 £25,889 investments, innovations and developments over the coming years Mole Valley £3,503 £40,624 that will boost our national and international profile. Central Croydon Chichester £3,132 £26,504 alone is undergoing a £5.25 billion Worthing £2,586 £23,813 regeneration programme1. The University of Sussex is at the cutting Arun £2,549 £16,235 edge of innovations in quantum Tandridge £2,225 £25,675 computing. Along the south coast, the leisure and tourism industry is Lewes £2,049 £20,215 experiencing a renaissance, with developments at resorts such as Epsom and Ewell £1,989 £24,994 Bognor Regis and Brighton, home Adur £1,169 £18,411 to the British Airways i360. Total £50,752 £26,202 (our average) Source: Office for National Statistics, Regional Gross Value Added (balanced) by local authority in the UK, 2017 1 Source: Develop Croydon, 2018 8 Functional Croydon is our single largest urban Distinctive and successful towns economic hubs area, integral to our economy, labour such as Epsom, Leatherhead, market and transport infrastructure. Reigate, Dorking, Oxted and Redhill With ambitions to become a Smart form a central part of our economic City and leading cultural destination, area in East Surrey.