Strategic Economic Plan

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Part 1 – Introduction, context and background• Political context • Economic context • The Strategic Economic Plan

Part 2 – Content• The outline of the Strategic Economic Plan

SCR LEP Background

Political context - a head of steam - greater devolution of power and resources

• Localism Act 2011

• Recovery from economic shock reignites decentralisation debate

• City Deals initiated

• Heseltine Review

• UKGOV respond to Heseltine -Local Growth Funds

• Public Sector Transformation

• Scottish Devolution

• Institute For Policy Research Northern Futures

Strategic Economic Plan – the process

Set priorities

Determine priorities at city

region level

Determine our prioritise for

EU resources

To act as a bidding

document

Determine the freedoms and flexibilities we want devolved

Determine our Local Growth

Fund allocation

Road map

Creating an environment

for joint private / public sector

investment

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• Too few private sector jobs, public

• 45,000 - 65,000 fewer jobs than needed

• 30,000 too fewer higher skilled jobs

• Productivity at 84% of national average - cuts across all activities/sectors

• A much less substantive business base than LEP peer group

• 6,000 fewer companies than the SCR economy should be able to support

The scale of the challenge

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• The Response

• To increase the number of start-ups in the City Region by encouraging a culture of enterprise and collaboration

• Support growth amongst existing firms in the SCR by promoting skills, innovation and creativity, providing appropriate business support and access to finance

• Increase levels of inward investment by developing a competitive and flexible offer that meets investor needs

• Promoting opportunities for global trade for businesses in the City Region by identifying clear markets and ensuring that businesses are able to access these markets

• Revolutionise the skills system to create the workforce that businesses need to grow

• Secure investment in infrastructure where it will do most to support growth

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• Access to finance – a coordinated offer able to bring together public and private sector finance

• Marketing the Region - Export and international trade

• SCR Skills Bank – businesses looking to up skill their own workforce, take on an apprentice or graduate

• Innovation - New product or service development

• Infrastructure, e.g. transport and digital

• Start up support / support for pre-revenue businesses.

Themes

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Community Innovation framework

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. Sheffield City Region Conference – November 20th

The role for social enterprise in Public Sector Transformation

Working with Young PeopleDeveloping and Innovation

Culture Integrating the Creative and Technology Sector

Innovation Throwdown

EU Funding Workshops for Social Enterprises

Sheffield Barnsley

Rotherham Doncaster

Districts

Developing a Community Innovation FundAcademy (£300m)

Power to Change(£150 m-endowment) CLG- Sustainability Fund for the Third Sector

ENGAGEMENT

Coomunity Innovation FrameworkEngagement : 2014-2015

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Deborah Egan

• Director Connect The Dots• Sheffield City Region L.E.P• deborah@ctdots.co.uk• 07447 929 151

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