Decision Maker: Executive

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: March 13, 2025

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.