Issue - meetings

This report provides an update on the city’s economic performance, setting out the specific productivity challenge that the city faces, and recommends the development of new approaches to attracting investment to the city – both of which are covered in two supplementary reports to this item.

Resolved:  That Cabinet agree to:

i)             Note progress and the challenges remaining in the delivery of the York Economic Strategy 2011-15.

ii)            Consider the supplementary reports and their recommendations for new ways of working to deliver against these ambitions; and

iii)          Approve the proposal to work with the York Economic Partnership Board to develop these proposals for new ways of working.

Reason:              To ensure members understand changes required for more effective delivery of economic growth.

Members considered a report which provided an update on the city’s economic performance, and the productivity challenges faced, recommending the development of new approaches to attracting investment to the city.

Following joint development of the York Economic Strategy 2011-15, which had an overall target of York becoming a top 5 UK for competitiveness and a top 10 mid-sized European city on a similar benchmark, it was noted that the city was underperforming on productivity measures. The barriers facing the city in overcoming this challenge and suggested approaches were reported in detail at paragraphs 13 to 17 of the report.

Officers confirmed the loss of a number of inward investors owing to a lack of suitable commercial premises and their workforce being able to find homes in the city.

Cabinet Members confirmed productivity as a regional issue requiring a greater focus on skills funding.

Following further discussion it was

Resolved:  That Cabinet agrees to:

i)             Note progress and the challenges remaining in the delivery of the York Economic Strategy 2011-15.

ii)            Consider the supplementary reports and their recommendations for new ways of working to deliver against these ambitions; and

iii)          Approve the proposal to work with the York Economic Partnership Board to develop these proposals for new ways of working. ^1.

Reason:              To ensure members understand changes required for more effective delivery of economic growth.