Economic Strategy for Norfolk and Suffolk

Economic Strategy

Executive Summary

Evidence Report

The Economic Strategy for Norfolk and Suffolk is a shared endeavour between businesses, education providers, local councils, the voluntary and community sector and is led by New Anglia LEP.  It outlines ambitious plans for future growth across Norfolk and Suffolk.

Bringing together public and private sector partners, it focuses on the actions we need to take in the coming years to help secure long term success.

Read the Economic Strategy for Norfolk and Suffolk here.

We want Norfolk and Suffolk to be:

  • The place where high growth businesses with aspirations choose to be
  • An international facing economy with high value exports
  • A high performing, productive economy
  • A well-connected place
  • An inclusive economy with a highly skilled workforce
  • A centre for the UK’s clean energy sector
  • A place with a clear, ambitious offer to the world

We will deliver these ambitions through actions and investment in priority places and themes.

 

Our Offer to the World
our offer to the world-min
Driving Business Growth
driving business growth-min
Driving Inclusion and Skills
driving inclusion and skills-min
Collaborating to Grow
collaborating to grow-min
Competitive Clusters
competitive clusters-min

Our priority places are the areas where the evidence shows there are significant opportunities and commitment for continued growth:

  • Ipswich
  • Norwich and Greater Norwich
  • The Norfolk and Suffolk Energy Coast, including Bacton, Great Yarmouth, Lowestoft and Sizewell, with assets on and offshore
  • The Cambridge - Norwich corridor
  • The East/West corridors along the A47 from Lowestoft to King’s Lynn and the A14 Felixstowe through Ipswich, Stowmarket, Bury St Edmunds, Newmarket and Haverhill to Cambridge
  • King’s Lynn and the A10 and rail corridor to Cambridge

Our priority themes are those economy wide opportunities where the evidence shows that investment and action will have the greatest impact on our ambitions and how we will deliver growth in all places across Norfolk and Suffolk.

To find out more about our priority places and themes, you can read the full strategy here.

The strategy identifies nine key sectors for our area. You can find out more about them on our Sectors page.

The strategy is based on a comprehensive, shared evidence base.

The Norfolk and Suffolk Economic Strategy is based on our 2014 Strategic Economic Plan.

To find out more about the strategy, email economicstrategy@newanglia.co.uk

Metro Dynamics has developed an Inclusive Growth Toolkit to help places make informed investment decisions. This is an important step towards allowing places to assess the inclusive growth outcomes of interventions or investments, placing inclusivity at the heart of decision-making. The work is an open source contribution freely available to view and use.

Inclusive Growth is becoming an increasingly important issue in the UK. There has been a growing feeling in the country that economic growth does not benefit all places or groups equally. We believe that if future economic growth is to become more inclusive, robust and logical thinking is required.

The toolkit’s aim is to help establish a simple methodology to allow places to do this. The Toolkit can help Local Authorities, Combined Authorities, and Local Enterprise Partnerships determine whether and how an investment or intervention supports inclusive growth. This will enable decision makers to have a clearer understanding of the likely impact of particular investments on people who have been least likely to benefit from growth in the past.

This work was supported by the Joseph Rowntree Foundation, alongside Sheffield City Region and Cardiff City Council, who have helped develop the model. We are also grateful for the support we received from representatives of Greater Manchester and West Yorkshire Combined Authorities, along with D2N2 LEP, New Economy and Cardiff and Sheffield City Regions.

As it stands, the guidance in the document is broadly ready to use, though there may be some local research needed to allow the impact measures to be sufficiently tailored to local economic and labour market conditions.

The Toolkit can be accessed here.

Autumn 2017

  • Economic Strategy agreed and published.
  • Implementation framework agreed
  • Capital Growth Programme call launched.

Winter 2017

  • Awareness raising.
  • Partner engagement on aligning and developing local plans.
  • Year targets to 2021 agreed and monitoring dashboard in place.
  • Theme Delivery and Investment Plans agreed.

Spring 2018

  • Implementation of Delivery and Investment Plans
  • Consider Investment Plan for 2018/19

Summer 2018

  • Ongoing monitoring and reporting on progress of Delivery and Investment Plans.

Autumn 2018 and onwards

  • Economic Strategy annual progress review and priorities agreed for 19/20.