Date: October 2019 Version 1.0 Approved by DM 1 ECONOMY AND REGENERATION PORTFOLIO OVERVIEW Portfolio Summary Since launching my portfolio agreement back in July, we have made good progress in several areas and seen major development in potentially achieving better public transport. The Mayoral Development Corporation (MDC) is now a reality and the prospect of 3,500 new homes, many of which will be affordable, is now on the horizon. Working with Homes England and with cabinet agreeing to a £100m loan facility to ‘kick-start’ development, this represents a significant period in the regeneration of our town centre and realising the true potential our borough has. Indeed, with the Mailbox – aka the old Sorting Office – nearing completion, the first project within the MDC boundary is almost upon us, providing 119 new homes. Our work within the Market Place is bearing fruit: footfall is up 6.3% compared to the previous year, above the forecast of 5%. Of course, the success of the Produce Hall is central to the Market Place’s resurgence and I make no apology for being a vocal supporter of it. Of course, there is still much to do; I am still mindful that people want to see a more comprehensive outdoor offering. I do, too, but this must be sustainable for the long-term: we only need to look at what recently happened in Rochdale to understand that markets are a very delicate area within retail. Occupancy within Stockport Town Centre is on course to meet our 75% target and we are hopeful we will meet our target of 300 independent businesses within the Town Centre this year. Indeed, proposals we’re set to bring to E&R scrutiny in December will, I hope, support us in meeting this target while also supporting the regeneration of our district centres. Regenerating our district centres is something I am incredibly passionate about: if we think about ‘the Stockport pound’ and how money spent locally circulates and multiplies, thereby benefiting more residents, district centres are at the heart of delivering that. This also links into Community Wealth Building, which I touch on below. Continuing with the Town Centre, our plans for Adlington Walk are ongoing and Stockport Exchange 2 is progressing well. Meanwhile, the old White Lion pub redevelopment is nearing completion and will bring 11 new homes right in the heart of Underbanks. Other developments within the Town Centre are also under discussion and I hope to bring you news about these soon. My aim for Stockport to lead on walking and cycling within Greater Manchester has been recognised by Greater Manchester’s Walking and Cycling Commissioner, Chris Boardman, who is delighted by the progress we’re making. We’ve recently gone to consultation on eight projects and the hope is these will have ‘buy-in’ from local communities and have a true, bottom-up approach. 2 Walking and cycling proposals shouldn’t only aim to reduce car journeys, thereby supporting healthier lives and addressing poor air quality, but make our communities nicer places to live and support wider road safety. I am grateful for the enthusiasm and ideas WalkRide groups across Stockport have and look forward to seeing further proposals from them in the coming months. Linking into walking and cycling is improving public transport and the proposal for bus franchising is essential to reducing congestion, improving air quality and delivering integrated public transport after years of theory, speculation and discussion. I am a vocal advocate for bus reform and feel we have an enormous opportunity to deliver a bus network that Stockport and Greater Manchester can be proud of. I believe we can gain the routes we need that will benefit people and communities, such as improving links to existing rail and Metrolink stations, while having a network that is truly accountable, more affordable and offers far better value for money. Indeed, the franchising model is forecast to deliver around £345m in economic benefits across Greater Manchester and I believe if we don’t take this opportunity now, we will regret it for many years to come from an economic, social and environmental perspective. The council’s statutory response will, from the outset, push for any benefits of bus franchising to reach the borough as soon as possible. I also hope the government will provide the funding necessary to avoid a rise in the mayoral precept relating to bus franchising. Nevertheless, members who are pro-franchising must support the consultation and get their communities involved – and I am happy to help in this regard. Finally, on Community Wealth Building, the council now has its own Steering Group and has commissioned the Centre for Local Economic Studies (CLES) to look at how the council can help develop a more socially just and progressive local economy. CLES work closely with local authorities across the country, including Manchester, Oldham and most notably Preston, to support the delivery of local economies that people feel work for them: this is where our work on district centres comes in and supporting the development of small businesses. The theme of Community Wealth Building is something I will be regularly returning to over the coming weeks and months. Cllr David Meller, Cabinet Member for Economy and Regeneration Revenue Budget (Forecast) Capital Programme £000 Cash Limit 1,842 Forecast 1,842 £000 (Surplus)/Deficit 0 2019/20 Capital Budget 63,424 2020/21 Capital Budget 44,544 Reserves 2021/22 Capital Budget 33,616 Approved use of reserves balance is £1.927m. Planned draw down at Quarter 2 is £0.403m (revenue) and £0.097m (capital) draw down. 3 ECONOMY AND REGENERATION 1. DELIVERING OUR PRIORITIES This report is based on the 2019/20 Portfolio Agreement, approved by Cabinet on 23 July 2019. The link to the Agreement is here. A full update of performance data is in Appendix 1 to the report. Priority 1: Inclusive growth We will focus on support and regeneration of the local economy, including significant investment in the town centre. There will be a greater focus on securing the economic, environmental and social benefits of growth for local people, supporting the creation of good jobs for people to increase individual and community independence and taking steps to address the rising cost of living. Progress on delivery projects, with highlights and exceptions Local Employment & Skills Plans Agreements Good progress continues to be made on the Stockport Exchange Phase 3 Employment & Skills Plan, including very positive engagement between the contractor (GMI) and Stockport schools for project work, and Stockport College for student site experience and work placements. Other developments this quarter include the agreement of an Employment & Skills Plan for Adlington Walk (which begin soon), completion of the plan with the RG Group for the LSH Mercedes development and continuation of the Employment & Skills Plan for Elisabeth Mill. GM Good Employment Charter The GM Good Employment Charter has been actively promoted through the Business Bulletin, social media, Stockport Economic Alliance and the Stockport Work & Skills Board. The Cabinet Member for Inclusive Neighbourhoods also promoted the benefits to employers at the Jobs Fair. To date seven Stockport employers have signed up as Supporters (including the Council). A further big push will therefore be made through business engagement routes to encourage more employers to support the Charter by promoting its benefits. European Social Fund (ESF) Skills Support Programmes The ESF Skills Support Programmes (Skills Support for Employment, Skills Support for the Workforce and the NEET Support Programme) have all now gone live, and have been promoted via the Working Well Local Integration Board to ensure they are integrated with the Working Well Programmes. Skills Support for the Workforce has also been promoted via the Stockport Business Bulletin, and via Skills Need Analysis support provided by the GM SEDA (Supporting Employer Demand for Apprenticeships) Advisers for local businesses accessing Apprenticeship Grants. The ESF Skills Support for the Workforce Programme delivered by the Growth Company is also a key support in the Thomas Cook Task Force set up to support affected employees. Stockport Work & Skills Board The Board met during Quarter 2 and continues make progress on its Action Plan priorities. The Board has also received briefings on progress regarding the GM Good Employment Charter. Current work commissioned to review the Work & Skills offer in Stockport will support the work of the Board going forward in terms of responding to gaps, and avoiding duplication where possible. 4 Small and Medium-sized Enterprises (SME) Apprenticeships Grant Since the Grant Offer went live at the start of 2019-20, 16 employers have accepted a grant. The earliest offered grants are now reaching payment stage. A similar number of employers have received information / application forms and are considering applications. Forty grants are available, all to be offered by 31st March 2020. Regular marketing has taken place through the Stockport Business Bulletin, social media promotion and awareness raising at Business Network Groups. Support for new business start ups People Plus delivers support for new business start-ups on behalf of the GM Business Growth company using local authority funding and the European Regional Development Fund. Between April 2019 to end September 2019, 42 potential entrepreneurs have received support from the service, leading to 11 new business starts to date. One-to-one advisory sessions are delivered fortnightly from Stockport Central Library, as are themed workshops (e.g. on marketing skills). Business/education liaison and support Gander supported 268 students during the 2018/19 academic year. Funding for the Gander initiative is secure for another academic year and a new Gander coordinator is now in place. The memorandum of understanding has been revised and issued to all partners.