Agenda item

To receive a presentation by the District Council’s Economic Development Manager.

(Councillor J D Ablewhite, Executive Leader was in attendance for this item).

By way of introduction, the Executive Leader informed the Panel that the Local Economic Assessment was a valuable tool for establishing the strategic economic direction of the District. Overall, the results presented a positive picture of economic development within Huntingdonshire. He drew particular attention to the Enterprise Zone and the fact that the first tenant had now been secured for the Incubator Unit on the site. He also drew attention to the large role played by manufacturing within the District and the Panel was informed that there had been an increase in the number of start up businesses within the District during the past year.

The Economic Development Manager explained that the Local Economic Assessment had been undertaken to provide an evidence base for a new Economic Strategy. A review of the Strategy was being undertaken to coincide with the creation of the new Local Plan for the District and to reflect a number of significant changes since the last review, namely, the impact of the recession and the establishment of the Local Enterprise Zone.

The Panel was advised that as part of the first stage of the assessment process, the data had been grouped into three themes – People and Communities, Business and Enterprise and Sustainable Economic Growth. The data had been tested at a number of workshops with stakeholders, elected Members and Officers.

In considering the themes which had been identified, Members were acquainted with relevant findings in each area.  Particular attention was drawn to concerns about future labour supply and the structure of the economy arising from low population growth forecasts. Concern was also expressed about a decline in the level of job applicants with NVQ qualifications.

Comment was made with regards to the figures for housing growth within the District. Members noted that one person households were predicted to take up a significant proportion of the increase in the number of households. The Executive Leader explained that a significant issue going forward would be the affordability of housing within the District. House prices in Cambridge were expected to continue to rise over the course of the next few years which would have a knock on effect on the surrounding areas.  Furthermore Members noted that the commercial property market had stalled and the relevant data appeared to indicate that there was a mismatch between the type of properties that were available and those for which there was a demand.

Having noted the outcome of the conversations with local businesses and the stakeholder workshops on the assessment data, the Economic Development Manager drew attention to the eight priority areas which had been developed for action. Councillor Ablewhite urged Members not to underestimate the role of the District Council in promoting Economic Development within the District. In this respect he made reference to the Council’s role in developing the Local Enterprise Partnership and establishing the Local Enterprise Zone.

In terms of the next stage of the process, the Panel commended the Economic Development Manager for the work that had been produced, which would underpin the future strategic development of Huntingdonshire. Members were informed that work would now be undertaken to draw up a new Local Economy Strategy for the District. In view of the significance of this piece of work, they were of the opinion that this warranted further consideration by the Panel. With this in mind, the Economic Development Manager was requested to present the Strategy and associated action plans to the Panel in the New Year.