Purpose

Consideration and approval of the draft
Economic Strategy

Content

RESOLVED
 
KEY DECISION
 
That the Executive:
 

a)     
Approves New Ambition: North
Northamptonshire’s Economic Growth Strategy
2025-30.

 

b)     
Agrees the creation of a North Northamptonshire
Economic Ambition Board to drive forward strategic
actions

 

c)     
Delegates authority to the Executive Director of
Place & Economy (Deputy Chief Executive), in consultation with
the Executive Member for Growth & Regeneration, to agree
details of the Economic Ambition Board, including appointments, and
make any minor amendments or updates to the Strategy.

 
 
Reasons for Recommendations
– The recommendations will ensure that:
 
·      
There is strategy in place for North
Northamptonshire, setting out a clear set of priorities and actions
to support economic growth over the next five years, supporting the
Corporate Plan vision and aligned with the Council’s wider
suite of strategies and plans.
·      
There is a more co-ordinated approach to economic
growth between the Council and its key partners supporting delivery
of the “BIG50 vision and priorities”.
·      
The Council is in a stronger position to respond to
new opportunities for Government funding and private sector
investment.
 

Alternative Options Considered
– Two alternative options have been considered:
 
·      
Alternative Option 1: No new Strategy. There is no
statutory requirement to prepare an Economic Growth Strategy, and
the Council could continue to offer a range of economic development
services and respond to opportunities as they arise. However, this
option would mean a less coordinated approach within the Council
and with partners. It could also put North Northamptonshire at a
disadvantage in relation to future funding and investment
opportunities, including in the context of devolution.
 
·      
Alternative Option 2: In-house development. The
Council could prepare a new Strategy without external support. This
would be a lower-cost option. However, it would mean fewer
resources to engage with partners and build support around a series
of priorities. It would also divert resources away from core
delivery during the strategy development period.