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Agenda

Health and Well-being Board Economic Update David Moore Head of Regeneration, CMBC 26 th 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

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Agenda

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  1. Health and Well-being BoardEconomic UpdateDavid MooreHead of Regeneration, CMBC26th July 2011

  2. 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

  3. Introduction to Calderdale’s Economy

  4. Economic Update (1 of 3)

  5. Economic Update (2 of 3)

  6. Potential Impact of recession on Employment in Calderdale

  7. Economic resilience 2011EKOSGEN

  8. Local Economic Assessment – SWOT (1 of 2) Strengths 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 – in terms 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 • 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 well connected • 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 

  9. Local Economic Assessment – SWOT (2 of 2) Opportunities 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 the private sector supply chain • 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.

  10. Local Economic Assessment – Key messages

  11. New Ways of Working:Leeds City Region and Local Enterprise Partnership

  12. Council’s response (1)– Revise Economy and Enterprise Strategy (Action Plan)

  13. 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

  14. 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

  15. 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

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