Agenda item - Review of Economic Priorities and Future Direction of Travel

Agenda item

Review of Economic Priorities and Future Direction of Travel

Minutes:

The Leader welcomed to the meeting Robert Spittle and Jonathan Till, Chairman and Vice Chairman respectively of the Bromsgrove Economic Development Theme Group, which was part of the Bromsgrove Partnership Board.

 

Cabinet considered a report on a set of revised economic priorities for the District. These were supported by an analysis of the various economic challenges faced by and opportunities available to the District.   

 

Members referred to some of the current challenges. In particular reference was made to:

 

·         Low wage levels for those who live and work in Bromsgrove – 6th lowest in the West Midlands region;

 

·         An imbalanced Housing Market and rising affordability issues – the property to annual income ratio in Bromsgrove being 10.8:1 when generally a ratio of 4:1 is considered to be affordable;

 

·         The demographics of the District which showed Bromsgrove has the 10th lowest proportion of residents in the working age group and that numbers in the 30-39 age group were falling (probably due to the cost of housing)  

 

Members’ attention was drawn to the 9 strategic priorities for economic growth set out in section 3.22 of the report:

 

·         Driving economic growth

·         Improving Connectivity

·         Supporting Businesses to start and grow

·         Re-balancing the local housing market

·         Developing key sectors

·         Driving up and retaining skills locally

·         Improving the Centres

·         Partnership working

·         Leading by example

 

A range of “early actions” to drive forward delivery of these priorities were contained in Appendix 3 to the report.

 

The Portfolio Holder for Economic Development stressed that in order to take these priorities forward, the co-operation and support of colleagues within the Cabinet and other Members would be crucial as the priorities cut across many areas of the Council’s activities and services.

 

Mr Spittle expressed the support of the Economic Development Theme Group for the proposals which the Group had helped to shape. It was also suggested that it would be beneficial to look to create a wider Task Force to encourage all Stakeholders to work together.

Cabinet recognised that in order to maximise the success of the Economic Development of the District, the co-operation and support of a wide range of stakeholders would be required and therefore the establishment of a Task Force to facilitate this was supported in principle.

 

Members welcomed the report and the revision of the economic strategic priorities whilst acknowledging there were a number of challenges which would impact upon their implementation.

 

Issues which were raised during the discussion included:

 

·         potential sources of funding for some of the priorities;

·         the role of the West Midlands Combined Authority;

·         the role of the Local Enterprise Partnerships;

·         highways issues which needed to be addressed;

·         parking issues which were being considered;

·         Broad Band issues

 

It was recognised that Bromsgrove District had a good base from which to build and achieve greater economic growth to benefit residents and the District as a whole. 

 

 

RESOLVED:

(a)       that the economic narrative set out in Appendix 2 to the report and the challenges and opportunities faced by the District set out in section 3.14 of the report be noted and endorsed;

(b)       that the 9 strategic priorities for economic growth set out in section 3.22 of the report be approved; and

(c)        that the Early Action Programme set out in Appendix 3 to the report be approved.  

 

    

 

    

 

 

Supporting documents: