Memorandum
submitted by
Summary
Bedford Borough Council is committed to creating the right environment for economic growth and prosperity. The evidence provided below is centred around the following key points:-
1. The measures that the Government has put in place to support the economy at the national and regional levels are to be welcomed. 2. There has been an increase in focus and understanding of how to tackle economic challenges, particularly following the Sub National Review of Economic Development and Regeneration (SNR). 3. The jobs sustained or created as a result of Government led initiatives are difficult to evidence to date due to a distinct time lag and the continuing increase in people claiming Job Seekers Allowance. 4. Partnership delivery arrangements have improved, particularly in relation to redundancy support and a more co-ordinated business support environment. 5. Without significant infrastructure investment, particularly relating to the need for the completion of the Bedford Western Bypass, longer term sustained economic growth will remain challenging.
Evidence
1.1 Bedford Borough Council has recently been granted unitary status and through its new responsibilities has embedded Economic Regeneration and Growth within the Council's corporate plan and our draft Sustainable Community Strategy.
1.2 In
September 2008, the Council embarked upon a Local Economic Assessment of the
area to help shape development of our Sustainable Community Strategy, and the resulting
delivery plans for the Council and our partners. This has been supplemented through
research conducted by
1.3 The findings of our research, alongside recent work carried out by the East of England Development Agency (EEDA), are informing delivery at the local level.
1.4 The pace of unemployment growth
in
1.5 The devolution of EEDA's Economic Participation programme is a good example of how local knowledge and understanding can best lead and deliver programmes that effect real economic and socio-economic change; tackling the issue of growing benefit claimants and worklessness and addressing the need to support enterprise and skills development. It is therefore disappointing that the cuts to EEDA's budget will result in significantly less funding to support key economic activity delivered at the local level during these difficult times.
1.6 There has been a distinct increase in the rate of local business closures and resulting redundancy levels. This has resulted in an increase in demand for the services of the multi-agency redundancy support group for Bedfordshire, who assist those at risk or who have suffered redundancy, through skills gap analysis, identifying training needs and better equipping individuals to access future employment opportunities. EEDA has led creating a supportive environment to address these challenges.
1.7 The downturn has created a challenging environment for trading in the retail sector, with smaller independent retailers being especially affected. In order to nurture these businesses and maintain vibrancy and distinctiveness in Bedford Town Centre, a range of initiatives have been supported by the Council, working alongside the local Business Improvement District. These include establishing a soft loan scheme for small independent Town Centre retailers, promotion of the Small Business Rate Relief and Hardship Rate Relief scheme, expanding the flexible lease terms offered by the Council for our Town Centre retail portfolio and reducing the Council's target for payments to small businesses.
2. Time Lag
2.1 The time lag between public intervention and sustaining and creating new jobs has impacted upon the ability to evidence achievement of outcomes delivered through the range of initiatives that support business.
3. Partnership Working and Focus
3.1 The Council, in response to the SNR and recent government initiatives, has strengthened our partnership working in the field of economic regeneration and growth and developed new ways of working with our local business community. This has improved access to the range of business support initiatives that are coming forward and assisted the Council and our partners to better understand local business needs.
3.2 The Council has established a new Thematic Partnership of the Bedford Borough Partnership Board, our Local Strategic Partnership, to ensure a co-ordinated and value added response to securing better economic outcomes. Our draft Sustainable Community Strategy highlights the current economic difficulties and, with our partners, will help us to plan and deliver more effective, co-ordinated solutions that help stimulate the local economy.
3.3 A good working
relationship exists with Business Link East, who are key partners in the
Thematic Partnership. The Council and Business Link East are working together
on initiatives to identify ways of better supporting
3.4 The Bedford Development Agency is the Council's
'approachable' business branding and network for local business, offering
business support and advice through a range of media and business-based events.
To support local businesses during the downturn we have re-vitalised the
activities and benefits of business engagement, increasing the membership to in
excess of 500 local businesses and thereby assisting with the work to raise
awareness of the support that is available to
4. Measures for sustainable economic growth
4.1 Sustainable economic growth in
4.2 The £5.5 billion Thameslink upgrade to increase capacity
from
4.3 Without
investment in the skills base of
4.4 The investments above will help overcome the widespread market failure to provide good quality employment buildings and sites that are needed for existing demand and the planned housing growth (to 2021 and beyond). It will reduce out-commuting for better paid jobs, stimulate higher skills levels and raise local aspirations.
22 May 2009 |