Agenda
description
Transcript of Agenda
Health and Well-being Board
Economic Update
David MooreHead of Regeneration, CMBC
26th July 2011
Agenda
• Introduction to Calderdale’s Economy• Economic update
– Impact of recession/ “Economic Resilience” – Local Economic Assessment
• Council’s response– Economy and Enterprise Strategy– Economic Task Force
Introduction to Calderdale’s Economy
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Manufacturing
Construction
Retail
Hotels & restaurants
Transport&comms
Finance
BusinessServices
Public admin
Education
Health & social work
Other community services
0.50
1.00
1.50
2.00
2.50
3.00
-10.0% -8.0% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0%
Inde
x of
Spe
cilis
ation
(Loc
ation
Quo
tient
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land
=1)
Average Annual Growth Rate
Economic Update (1 of 3)
Economic Update (2 of 3)
Potential Impact of recession on Employment in Calderdale
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90
95
100
105
110
115
2007 2008 2009 2010 2011 2012 2013 2014
Scenario 1
Scenario 2
Scenario 3
Source: EKOS 2008, based on Yorkshire Forward Chief Economists Unit / Experian Business Strategies, 2008
Economic resilience 2011EKOSGEN
Calderdale
0.0
20.0
40.0
60.0
80.0
0.0
20.0
40.0
60.0
80.0Economic Structure
Skilled Workforce
Enterprise
Economic Inclusion
Places and Population
Infrastructure andConnectivity
Calderdale Index Average
Local Economic Assessment – SWOT (1 of 2)
Strengths
• Manufacturing and finance sectors• Tourism and CDI – growth potential.• Affordable housing.• Prosperous areas, desirable locations to live.• Low public sector dependence.• Direct rail link to London and Access to major
transport hubs• Strategic position between 2 major city regions• Access to in excess of 5m people within an hour’s
drive of Leeds and Manchester.• Connections – extra capacity on the Caldervale line• Good bus networks – deprived areas are wellconnected• 70% of the district is rural• High GVA and business start ups• Excellent schools and attainment levels• Access to 7 universities within an hour’s travel• FE degree offer from Calderdale College
Weaknesses• Manufacturing output decline and employment.• Vulnerability of finance sector.• Reliance on several large employers• Topography / geography for development /infrastructure.• High levels commuting out – ‘commuter town’ risk.• No higher education institution presence – interms of student spend, vibrancy etc• Deprivation – gap between rich and poor• Unemployment levels• Absence of locally available employment land.• Significant retail spend leakage• Poor rail connections and roads at capacity • Congestion may constrain economic growth–although not as much as in Leeds/Manc’r or London• Business survival rates
Local Economic Assessment – SWOT (2 of 2)
Opportunities• Finance sector developing cluster.• Advanced manufacturing.• Creative Digital sector- high growth.• Diversify the business base.• Encourage further enterprise.• Improve mentoring/support for Businesses• Environment, landscape and tourism.• Media City – Salford.• Strategic position between 2 major city regions and
access to 7 universities• Improved connectivity to Leeds and Manchester• Up-skilling of residents.• Develop retail offer – growth of jobs.• Harness spend in Calderdale instead of Leeds/Manc’r• Reduce unemployment.• Reduce transport congestion.• Electrification of Caldervale line and links to East Lancs• Integrate bus and rail offer.• Links with LCR Green Infrastructure Strategy.
Threats•Manufacturing decline• Finance; reliance on one large employer.• Leeds City Region retail developments.• Transport congestion.• High unemployment.• Capacity for tourism• Cost of up skilling employees • Access to finance to fund opportunities.• Public sector cuts; impact on jobs and theprivate sector supply chain
Local Economic Assessment – Key messages
New Ways of Working:Leeds City Region and Local Enterprise Partnership
Council’s response (1)– Revise Economy and Enterprise Strategy (Action Plan)
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Council’s response 2; Economic Task Force
• Cross party Member group to respond to economic recession: £2.1m allocated to over 40 projects to date
• Encourage enterprise and diversification– Enterprise support (including social enterprise)– Sector focus – Manufacturing and Finance, as well as growth sectors
(Creative, Tourism, “Green”)– Support for new and existing business networks
• Tackle unemployment;– Apprenticeships, Future Jobs Fund (now Workchoice, Work Programme),
provide support to help people into employment
• Improve skills and Innovation– EU funded project to provide access to University research, graduates,
support for local Supply Chains
Council’s response;3. Support Physical Regeneration
• Halifax – The Shay– Broad Street– Piece Hall
• Sowerby Bridge• Elland• Upper Calder Valley
– Hebden Bridge– Todmorden
• Encourage Investment– Increase profile– Work with City Region
Summary• Economic situation being closely monitored• Response to Economic recession• Adapting to new ways of working
– City Region, not Regional focus– Less funding– More working with partners (including private and
voluntary sectors)• Initial successes
– But... more investment needed– Continue focus on employment, enterprise, diversification,
skills, innovation and physical regeneration