Agenda item

This paper sets out a proposed timeline and outline process to review the economic climate, consider the challenges we face as a city, and enable the development of a refreshed Economic Strategy as an early priority in the 2019/20 work programme.

Members considered a report which set out a proposed timeline and outlined processes to review the economic strategy, consider the challenges which York faced as a city, and to enable the development of a refreshed Economic Strategy as an early priority in the 2019/20 work programme.

The Head of Economic Growth gave an update and confirmed that:

·        The York Economic Strategy was developed in 2015 and published in July 2016, just 26 days after the EU referendum.

·        The York Skills Plan was published in 2017.

·        Due to the Governments Industrial Strategy to encourage local enterprise partnerships (LEPs) to develop their own regional approach, the York, North Yorkshire & East Riding Enterprise Partnership Strategic Economic Plan and the Leeds City Region Strategic Economic Plan were under review.

He went on to advise that the current Economic Strategy was for the period 2016-2020, with its partner document, the York Skills Plan, covering 2017-2020.  Therefore, a new strategy would be needed for 2020 onwards, with drafting taking place in 2019, with an opportunity to bring economic development and skills together into a single framework.

The officer continued to outline the targets set for York and the progress against the York Economic Strategy priorities, focussing on the 8 essential ‘to-dos’ of which four were progressing well and assessed green, with the remaining four progressing more slowly and assessed amber.

He then discussed the following four headline targets:

·        Growing Wages to above the national average by 2025.

·        Meeting in full the requirements for business space and housing.

·        Growing priority high-value sectors at least 20% faster than baseline forecasts.

·        Maintaining comparative advantages in employment, skills and connectivity.

Members noted the priorities and challenges moving forward and that the Economic Strategy conference would link into York Business Week and would take place on 19 November 2018.

Following comments and further questions around inward investment, business space, housing targets, employment, wages and skills, the Head of Economic Growth, the Corporate Director of Economy and Place and the Assistant Director of Planning and Public Protection stated that:

·        Discussions with key players including the University of York regarding inward investment and commercial opportunities within York Central had begun and ongoing engagement with businesses across the city through Make it York was taking place to drive the economy. New opportunities and innovations that would be unique to York were being considered.

·        There was a good range of space in the Local Plan for industrial development.

·        The council did not have a huge amount of influence over employer’s wages and this would be a challenge going forward.

·        The economic development officers from the LEP’s could be invited to express their views on the regions economic function in order for Members to explore more broadly and ensure a fully formed debate.

·          Planning enforcement was only imposed as an appropriate and proportional response to something, such as an adverse impact on residents or an environmental issue. 

Members thanked the officer for his report and it was noted that this Committee could provide guidance to help bring this strategy together. It could help set a clear vision where certain key indicators could be monitored.  Members requested a double rating on the ‘to-dos’ and it was suggested that promoting re-skilling opportunities for employees could be an approach to develop the skills agenda.  

Resolved:  (i)      That the report be noted and commented on prior to it being considered by the Executive Member for Economic Development and Community Engagement at a Decision Session on 23 July 2018.

(ii)          That the Chair considered all points raised and email Committee Members a suggested direction that would best support officers in the development of the strategy.

Reason: To inform Members of the proposed timeline and process for the development of a refreshed Economic Strategy.