Decision

1. 1

The Committee received a report on the Sheffield Economic Evidence Base Refresh. The Director of Economic Development and Culture, the Economic Policy Officer and individuals from Kada Research and Sheffield Innovation Spine attended and outlined the background, development, engagement undertaken, summary findings and implications of the refresh of the Sheffield Economic Evidence base.

1. 2

RESOLVED UNANIMOUSLY: That the Economic Development, Skills and Culture Policy Committee:

a.    Approve the refreshed Economic Evidence Base report

b.    Note the publication of an online tool using Power BI software to provide an interactive resource for public use

1. 3

Reasons for Decision

1. 3.1

Refreshing Sheffield’s Economic Evidence Base will ensure the city has a local economic assessment that is up to date and fit for purpose. The updated Economic Evidence Base will improve decision-making by providing the council with a detailed, sound and independently produced evidence base. This will underpin key decision-making, including for the development of the Investment Plan and delivery of the Growth Plan. The proposed Power BI model will deliver a useful data resource for the city and will improve accountability and transparency around the economic performance of Sheffield.

1. 4

Alternatives Considered and Rejected

1. 4.1

Alternative Option 1: Do not develop a refreshed Economic Evidence Base

This was rejected for several reasons. The data from the 2022 Evidence Base Report was increasingly at risk of becoming out-of-date. For instance, since the 2022 Report was published there has been an update to the Index of Multiple Deprivation (IMD). ‘Data lag’ means that the 2019 iteration of the IMD used in the previous evidence base report used data from as far back as the 2011 Census. Out-of-date data would risk reducing the utility of the evidence base in terms of underpinning sound decision-making and strategy development. In addition, the 2022 Evidence Base had a particular focus on the impact of the Covid-19 pandemic on Sheffield. A refresh means that the evidence base would be focused on the current socio-economic landscape of Sheffield and the wider UK. Refreshing the evidence base also allows an enhanced approach to the data framework – through a Power BI tool, the data will be kept live and up to date with regular updates. This contrasts with the standard approach in which the evidence base is static and becomes out of date much quicker. By keeping the Evidence Base up to date and a ‘live’ document, this approach will also save money and resources in the longer term, by helping to increase the time between commissioning further formal evidence base updates.

1. 4.2

Alternative Option 2: Develop the Economic Evidence Base Refresh in-house

This was rejected for several reasons. Commissioning the Economic Evidence Base externally ensures an independent and credible assessment of Sheffield's economic strengths, challenges and opportunities. The Economic Evidence Base Refresh required understanding of a very broad range of indicators, and in addition to this breadth of knowledge, external consultants bring specialist expertise in areas such as productivity analysis, sector assessment and benchmarking, as well as experience from working across multiple local authorities, enabling them to provide challenge, comparative insight and examples of best practice. Commissioning provides additional capacity not currently available internally, ensuring that existing internal resources are not diverted away from policy development and service delivery. The commission also included a requirement to develop a Power BI model, which is being built in a way that allows it to be updated and amended internally by Sheffield City Council officers on an ongoing basis, without the need for additional consultancy resource.