Decision details

To receive an outline of the Guildford Economic Strategy and adopt it.

Decision:

(1)      To recommend that the Council adopts the Economic Development Strategy 2023-2040 and the supporting evidence base, attached as Appendices 1 and 3 respectively to the report submitted to the Executive.

(2)      That the draft Economic Development Action Plan, attached as Appendix 2 to the report, which will be subject to further consultation with strategic partners, be noted.

Reasons:

To support the reinvigoration of Guildford’s economy, the new Economic Development Strategy and Action Plan:

·         Sets out the case for action in light of changes to the international, national and regional economic landscape.

·         Gives an updated analysis of Guildford’s strengths, weaknesses, opportunities and threats.

·         Identifies key strengths and opportunities to for the Council and its partners to harness, such as sector specialisms and economic assets (e.g. commercial spaces).

·         Highlights the importance of mitigating the environmental impact of economic activity to reflect climate change and sustainability issues.

·         Identifies the levers that the Council can utilise to address priorityinterventions that can help deliver significant positive impact for our economy.

Other options considered and rejected by the Executive:

None.

Details of any conflict of interest declared by the Leader or lead councillors and any dispensation granted:

None.