The Strategic Director Place will submit a report (Document “Y”) which provides a progress update on the development of the new Economic Growth Strategy for Bradford District.

The purpose of the strategy is to help support the growth of Bradford district’s economy, and provide a focus for joint activity across a range of partners. Its goal is supporting economic growth that everyone can contribute to and benefit from.

Executive is asked to endorse the four themes around which delivery will focus, and provide a steer on next steps.

Recommended –

(1)       Members endorse the four themes as providing a useful focus for further work around delivery.

(2)       Members ask the Producer City Board (and supporting officers) to develop these themes into a clear set of proposals for action and implementation.

Overview and Scrutiny Committee: Regeneration and Economy

(Kate McNicholas - 01274 431761)

The Strategic Director Place submitted a report (Document “Y”) which provided a progress update on the development of the new Economic Growth Strategy for Bradford District.

The purpose of the strategy was to help support the growth of Bradford district’s economy, and provide a focus for joint activity across a range of partners. Its goal was supporting economic growth that everyone could contribute to and benefit from.

Executive was asked to endorse the four themes around which delivery will focus, and provide a steer on next steps.

During a PowerPoint presentation, key elements of the Economic Growth Strategy were alluded:

·         That the purpose of the Strategy was to position, focus, assure and connect to the industrial strategy – nationally and sub regionally; build on Producer City and the City Plan; embed inclusive growth and promote shared action.

·         That Bradford is the 8th biggest economy in England (11th in UK) with Gross Value Added (GVA) at £9.5 billion.  Ninth largest number of businesses in UK- Seventh in England.  Third largest number of manufacturing jobs in the UK.

·         That GVA increased in Bradford by 2.4% over the year to 2012. This was higher than a 1.0% rise in Yorkshire and the Humber and 1.6% across the UK.

·         That the total number of businesses in the district now stands at 17,600.

·         That raising productivity was our key economic challenge. Bradford GVA at 2015 was £9.5 billion – equivalent to £17,892 per head of population compared to a UK figure of £25,601. Closing this £7,709 per head gap with the UK would raise total GVA to £13.6 billion – an increase of £4.1 billion.

·         That regional GVA per head was £20,351. Closing this £2,459 per head gap would raise total GVA to £10.8 billion – an increase of £1.3 billion.

·         That Bradford businesses were productive in comparison to majority of UK excluding London and the South East – the issue is we need more businesses and more jobs.

·         That Bradford had .69 jobs per work-age adult compared to .83 nationally (a gap of around 40,000 jobs) Leeds job density is .95

·         That a low employment rate shows the need for jobs growth

That the four key opportunities included:

·         Our young and enterprising population:
Ensuring our young people are equipped to succeed and drive our future economy

·         Our distinctive offer:
Capitalising on our distinctive place and cultural assets to create compelling investment propositions

·         Our growth potential:
Building on business strengths to improve productivity and create the conditions for growth: 

·         Our globally connected district
Improving transport infrastructure and digital connectivity, and supporting business to increase exports 

During the discussion, the Leader highlighted  the number of innovative companies located in the district and the work NEXa had done with schools.  She added that there was a need to sustain growth for the benefit of all in the district and that partnership work was crucial in delivering on the Strategy.

The Regeneration, Planning and Transport Portfolio Holder also endorsed the work done across the district  and the need to extend this work in order to tap into Bradford’s growth potential.  He added that improving transport connectivity and developing digital technology were key components of the growth strategy.

Resolved -

(1)       That the four themes set out in Document “Y” be endorsed as providing a useful focus for further work around delivery.

(2)       That the Producer City Board (and supporting officers) be asked to develop these themes into a clear set of proposals for action and implementation.

ACTION:  Strategic Director Place

Overview and Scrutiny Committee: Regeneration and Economy

(Kate McNicholas - 01274 431761)