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