Prosperous Business, Prosperous Towns

AMT Convention 2008Skipton

Objectives

How is your town doing The components of a sustainable market town

economy Assessing current economic status and

opportunities Potential strategies Inform AMTs policy paper, targeted at town

partnerships and town councils

Prosperity + Sustainable Communities

What does it mean for a town?

Economic Foundations- role and sectors

• Yorkshire Forward 2008 report: ‘Assessing the economic performance of rural capitals in

Yorkshire and the Humber’Status by function, size and location:- Labour provider- Business location- Tourism hub- No dominant role• Sectors or general business hub; role of town centre

Welland Market Towns Case Study

An informal network of 14 towns supported by the Welland SSP: Bourne The Deepings Higham Ferras Irthlingborough Lutterworth Market Harborough Melton Mowbray Oakham Oundle Raunds Rushden Stamford Thrapston Uppingham

Why benchmark?Powerful tool for the towns which assists in:

• Understanding their current relative strengths and weaknesses - crucial to targeting areas for improvement

• Seeing trends in the local economy -assists with early intervention if required

• Focussing forward strategies and action planning

• Effectively measuring the benefits of partnership activity

What is measured? Data is collected on 12 Key Performance Indicators:• Retail offer observation

– commercial unit types – key attractors – vacant units – retail property yields– rental values – profile of markets – footfall counts

• Surveys on vitality– Shoppers origin surveys– Car parking provision and usage– Business confidence – Visitor satisfaction

Website – www.townbenchmarking.org.uk

Wider town view - Sources of information

• Existing data– Local authority + other local sources

• Primary Data Collection

West Yorkshire Case Study

SlaithwaiteMarsden

Marsden and Slaithwaite Case Study

Vision -> Plans

A place to live and work for all the community•The Green Valley Initiative

– Cluster of green business– Environmental technology– Sustainable building/ green building training

facility

Planning Future Action

• Situation Analysis (understand and measure current economic performance)

• Develop realistic plan for future economy• Identify inputs required for plan (e.g. Skills

gaps, need for more land for development)• Determine actions – influencing or invest

Inward InvestmentAMTi Case Studies

• Strategy• Strong authority• Transport Links / car

parking• Environment• Community facilities• Housing• Education institutions• Technology

• Local fit with growth sectors + understanding

• Skills• Land / property• Business Support and

Networking• Promotion

Conclusions

• Complicated picture• Assessment process• Local vision• Intervention