Content

The Cabinet considered a report
of the Executive Director (Environment & Place) that sought
approval of the principle of preparing an up-to-date Economic
Growth Strategy, the likely timescales for creating it and proposed
elements of the structure of the strategy.
 
Resolved:-
 
1. That the development of an
Economic Growth Strategy be approved.
 
2. That
councillors and wider stakeholders be engaged during the
process and that a draft Economic Growth Strategy be presented to
Cabinet for adoption in due course.
 
Reasons for
Decisions
 
Supporting economic growth in the city is key to achieving a
wide range of the council’s objectives, as recognised in its
current body of strategies. Delivering this through the development
of an overarching, up to date strategy which can adapt to changing
economic contexts is an effective way of progressing this both in
terms of delivering positive outcomes and making best use of
resources.
 
Appropriate engagement with
stakeholders at an early stage is key to informing the development
of a strategy which addresses the relevant issues, maximises the
benefits presented by opportunities and is deliverable.
 
Other Options
 
The Council could choose to not
develop an Economic Growth Strategy (there is no statutory
requirement). However, it is considered that supporting economic
growth in its widest sense is a key priority for the Council, as
reflected in the Corporate Plan and the Council’s wider suite
of strategies.
 
Note: This is an Executive
function
Not eligible for call-in as the
matter has been the subject of pre-Cabinet scrutiny by the Place
Scrutiny Committee.
Cabinet Member: Cllr
Nelson