The Bromley Economic Partnership met on Tuesday 11 June 2024 to discuss the borough's economic outlook, service updates, and strategies for inward investment. The meeting was scheduled to review the partnership's terms of reference and receive updates from various economic development services and partners.

Economic Development Service Update

The meeting was scheduled to receive an update on the UKSPF Bromley Business Growth programme, which includes initiatives such as the Suppliers Bromley programme, Growth Builder, Start-up Bromley, and the Bromley business hub. The report pack indicated that while job creation targets were being met, job safeguarding targets appeared to be behind schedule due to delayed reporting. A new element, the Green Mark award, which focuses on carbon reduction and environmental management, was being piloted with 10 SMEs.

Additionally, an update was expected on the Strategic Investment Fund, which has secured £937,744 from TfL to extend a full fibre network to 21 council sites by December 2024, with potential access for other public sector, commercial organisations, and priority areas like Biggin Hill and the Cray Valley.

The partnership was also scheduled to discuss the refresh of the Economic Strategy 2021-23, with a growth plan to be shared at the meeting, followed by consultation and final approval in October. An update on the Town Centres – Night Strategy was also on the agenda, detailing the success of Bromley's Night Time Enterprise Zone, which saw a 107% increase in footfall between 6pm and 9pm. The report pack indicated a proposal to extend these benefits borough-wide through a new strategy, with consultation planned with businesses, residents, and night workers.

Deep Dive Topic: Inward Investment

A significant portion of the meeting was dedicated to a deep-dive on inward investment. The report pack highlighted that Bromley was largely invisible to West End agents and that there was a need for a stronger supply of commercial space. A presentation was scheduled from Adam Breeze of Breeze Strategy Ltd, who has extensive experience advising on inward investment. The discussion was expected to cover the changing landscape of inward investment due to global events, the evolving needs of companies, and the competitive market for locations. The report pack suggested that Bromley could improve its position by promoting its advantages, such as being the largest and greenest borough, one of the wealthiest, and well-connected, despite currently receiving less than half a percent of London's inward investment projects.

Specific discussions were anticipated regarding the potential of Biggin Hill Airport as a focus for investment and development, with considerations for commercial flights and the need for progressive planning policies. The report pack also mentioned the importance of developing opportunities in the Cray Valley and town centres, and the need for a small, well-trained, and proactive team to focus on target markets and intermediaries.

Partner Updates

The meeting was scheduled to include partner updates from various organisations. Lee Thomas of Fairlight Group was expected to report on businesses struggling in recent months and the need for improved productivity. Adrian Gabriel-Lovell, the new Jobcentre Plus Partnership Manager for Bromley and Bexley, was also scheduled to introduce himself.

Review of Terms of Reference

The partnership was scheduled to review and update its Terms of Reference. The existing terms outline the partnership's purpose to provide a collaborative approach to economic development, champion Bromley as a place to work, study, invest, and do business, and serve as a forum for sharing data and best practices. Membership includes representatives from the public, private, and voluntary sectors, with a focus on seven economic aspirations: Education and Skills, Employment Spaces, Helping Businesses Thrive, High Streets for the Future, Connectivity and Mobility, Enhancement of Tourism and Culture Industries, and Working Towards a Green Economy. The terms also detail meeting procedures, decision-making processes (by consensus), and reporting structures.

Minutes of Previous Meeting and Matters Outstanding

The minutes of the previous meeting held on 26 March 2024 were scheduled for review. The report pack indicated that no matters were outstanding from that meeting.

Questions from Councillors and Members of the Public

The agenda included a slot for questions from councillors and members of the public. The report pack specified that questions needed to be submitted in writing by 28 May 2024, with clarification questions accepted by 5 June 2024.

The meeting was scheduled to conclude with the confirmation of dates for future meetings, including those on 15 October 2024, 14 January 2025, and 1 April 2025.