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BUILDING ECONOMIC RESILIENCE ACROSS GREATER MANCHESTER: STOCKPORT EVENT AGENDA

BUILDING ECONOMIC RESILIENCE ACROSS GREATER MANCHESTER: STOCKPORT EVENT AGENDA. 08:30 – 9.00 Arrival and Registration 9.00 – 9.10 Welcome and Introduction: Eamonn Boylan, Chief Executive, Stockport MBC

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BUILDING ECONOMIC RESILIENCE ACROSS GREATER MANCHESTER: STOCKPORT EVENT AGENDA

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  1. BUILDING ECONOMIC RESILIENCE ACROSS GREATER MANCHESTER: STOCKPORT EVENT AGENDA 08:30 – 9.00 Arrival and Registration 9.00 – 9.10 Welcome and Introduction: Eamonn Boylan, Chief Executive, Stockport MBC 9.10 – 9.30 Local Economic Assessment – Dr Alexander Roy, Head of Economic Analysis, New Economy 9.30 – 9.50 The Emerging Strategic Context – Baron Frankal, Director of Strategy, New Economy 9.50 – 10.20 Q&A Session – Panel: Eamonn Boylan, Baron Frankal and Alex Roy 10.20 – 10.25 Closing remarks – Eamonn Boylan, Chief Executive, Stockport MBC 10.25 Networking opportunity

  2. Greater Manchester Local Economic Assessment STOCKPORT 15th December 2010 Dr Alexander Roy Head of Economic Analysis

  3. The LEA: What’s New? • The LEA endorses and reinforces key findings of the MIER … but nearly 2-years on, the LEA also tells us about: • The current & forecast future impact of the recession • The composition & risk profile of the public sector across GM • The spatial dimensions of growth down to local level

  4. LEA Timetable • GM LEA incl. Local Authority chapters: • Presentation based on draft final reports • Final version early Jan. – taking into account feedback • Additional Studies: • Advanced Manufacturing – end Jan. • Manchester Airport – end Jan. • Worklessness (Uni of Oxford analysis of DWP data) – May/June

  5. GM Employment Growth 2003–08

  6. GM Employment Growth 2003–08

  7. FB&PS FDI into UK 2003–09

  8. Manufacturing FDI into UK 2003–09

  9. Travel-to-Work

  10. Business Base KEY (1998–2008) High Growth Growth Decline High Decline CREATIVE: 6.4% MANUFACTURING: 10.4% TEXTILES: 0.3% 14 FOOD AND DRINK: 1.4% ENGINEERING: 4.6% EDUCATION: 7.6% RETAIL: 8.2% CONSTRUCTION: 11.7% NON-HEALTH RETALTED LIFE SCIENCES: 3.0% FINANCIAL: 4.1% HEALTH: 12.3% FINANCIAL AND PROFESSIONAL SERVICES: 15.7%

  11. Public Sector

  12. Public Sector Employment

  13. Public Sector

  14. High-growth Businesses

  15. People Highest employment rate in GM is driven by highly-skilled resident population - over a third of the district’s population are qualified to degree level and above

  16. People & Place

  17. Spread of Deprivation

  18. People & Place

  19. Impact of the Recession

  20. Impact of the Recession

  21. Public Sector Cuts

  22. Strengths • Skilled population • Strong private sector business base • Strong part of ‘South Manchester’ property market • Attractive neighbourhoods and quality of life • Good connectivity with rest of conurbation

  23. Threats • Polarisation: benefits of growth and prosperity not seen in some neighbourhoods • Public sector cuts across GM: despite low public sector employment within Stockport, relatively high proportion of residents commute to work in public sector jobs outside Stockport • Ageing Population: despite attracting a large number of young professionals, Stockport’s resident population is relatively old • Loss of manufacturing – even in advanced activities

  24. UK Competitiveness Index 2010 • UKCI 2010 shows Stockport as 2nd most competitive borough in GM – ahead of most cities outside SE/SW • Although good in a northern context, Stockport (#126 in 2010) ranked similar to mid-performing areas such as Cardiff (#130), Maidstone (#124),Norwich (#111) and Bedford (#132)

  25. Town Centre • Stockport town centre has a key role for growth of GM as a whole – esp. due to connectivity (WCML to London, M60, Manchester Airport) • One of two GM town centres offering scale, diversity and critical mass to be real driver for growth • But, recent research has identified the need to improve the town centre offer: • “Although Stockport currently performs well inrespect of retail indicators, it is vulnerable and may decline withoutsignificant intervention.” • Drivers Jonas Town Centres (2010)

  26. Opportunities In order to attract greater inward investment and maximise benefits of large highly-skilled resident population priorities include: • Office space: continue to attract Head Office functions and take advantage of growth of conurbation core • Retail and Leisure: opportunities to create a more vibrant and competitive offer to attract trade and retain young and aspirational residents • Make most of heritage and history of borough and buildings

  27. The GM LEA including the Stockport chapter are available at: www.neweconomymanchester.com Dr Alexander Roy Head of Economic Analysis alex.roy@neweconomymanchester.com

  28. Building Economic Resilience Across Greater Manchester Stockport The Emerging Strategic Context Baron Frankal Director of Economic Strategy baron.frankal@neweconomymanchester.com

  29. THEMES • A new national economic development landscape starting to become clear • The Greater Manchester Strategy (GMS) • Greater Manchester Local Enterprise Partnership (LEP) • Greater Manchester Combined Authority (CA) • Conclusions

  30. THE NEW ECONOMIC DEVELOPMENT LANDSCAPE Winding down RDAs Employment - New approach to welfare reform - Single Work Programme Skills - Freeing up learning and training providers from central targets Emerging central approach to business support, innovation, trade and investment Localism – Yet a role for functional economic areas through Local Enterprise Partnerships – economic development, transport, planning, regeneration

  31. LOCAL GROWTH WHITE PAPER: OPPORTUNITIES • Business support – potential for GM to deliver • Growth Hub – tentative proposal for joint bid with regional partners • Technology and Innovation Centre – potential high profile GM bid • International trade and inward investment – drive agenda, with opportunities for GM LEP input and delivery • Regional Centre competitive, manufacturing & distribution less so • Monitor / drive regional transition work underway on business support, sector support, land assets, research, EU • Tourism and marketing • Central role in Regional Growth Fund bids • Working with HCA on regeneration and securing housing delivery

  32. A solid foundation on which to build Based on MIER and other evidence Widespread consultation GMS agreed by AGMA Executive Board, August 2009 Central government signed up in Agreement in December 2009 and implementation underway All bodies now implementing GMS GREATER MANCHESTER STRATEGY (GMS)

  33. Focus on Early Years to maximise impact of interventions Better Life Chances in the most deprived areas Increase the proportion of highly skilled people Attract, retain and nurture the best talent Significantly improve transport Expand and diversify economic base Increase international connectivity of GM’s firms A Low Carbon Economy – GM specialising in built environment The Housing Market – Attractive and sustainable places to live More effective governance Building a Sense of Place GMS STRATEGIC PRIORITIES

  34. GMS provides focal point for collaboration Stockport – Can play a key role in contributing to the implementation of the GMS Build on work underway in the Early Years and Better Life Chances pilots and other GMS work streams such as Low Carbon, which are underway Anticipation of difficult times through public service reform agenda and realising benefits of collaboration GMS & STOCKPORT

  35. Stockport's economy is private sector driven and continuing to meet the requirements of their private sector partners is a priority Town Centre is key priority – needs to capture demographic better Stockport has a high value housing market and interest from housing developers in bringing forward more development in the short to medium term Stockport is a valuable resource for GM in that it is attractive to working households (due to environment, quality of residential neighbourhoods, good schools, connectivity to major employment sites both within and outwith of the borough) GREATER MANCHESTER SPATIAL FRAMEWORK: KEY ISSUES FOR STOCKPORT

  36. GREATER MANCHESTER COMBINED AUTHORITY • The GMCA ‘scheme’ was approved by all of GM’s ten local authorities in April 2010 and submitted to Government • 15 week consultation by CLG & DfT – majority of responses were positive • Proposition went to the Secretary of State for Communities and Local Government recommending that plans for a CA in GM go ahead • Government has now approved plans approval with draft order to be laid before Parliament

  37. GM LEP PROPOSAL • Submitted and now confirmed as a front runner • Shadow LEP now established and meeting monthly • Establish full LEP by April 2011 • Recruitment process • Membership

  38. TIMELINE 6th Sept End Sept April Start Dec Shadow GM LEP & CA est. GM LEP & CA operational Front-runner LEPs announced Proposal Submitted Negotiations with Government continue GM Partners establish shadow LEP infrastructure Partners (shadow LEP) implement appointment process to full LEP Partners (shadow LEP) manage full consultation

  39. PROPOSAL FOR GM LEP & CA TO OVERSEE • Research and strategy development • Science and innovation • Inward investment and international trade • Employment and skills • Business support for new business and growth • Marketing and tourism • European funding • Low carbon economy • Planning, housing and transport

  40. RESPONSIBILITY, RESOURCES AND CHALLENGES • Ongoing discussions with central government departments through Senior Officials Group • Regional transition work underway • Employment and skills – influencing the new agenda that is emerging – collaboration with employers to stimulate demand, influencing FE Colleges and work based learning providers to reflect this • Securing resources: European Funding, RGF, Evergreen, TIF • How, in a constrained resource environment, do we maximise the GM offer?

  41. CONCLUSIONS • Changing landscape - regional structures abolished and new partnerships at a sub regional level • Combined Authority – primary accountable body that has potential to take on responsibility for coordinating economic development and regeneration and transport provision across Greater Manchester • Local Enterprise Partnership established and potentially powerful tool to realise GM aspirations • Greater Manchester needs to focus activity on those strategic priorities through the GMS that will bring long term sustainable growth • It will be crucial to stimulate private sector-led economic development, whilst at the same time mitigating the effects of public sector fiscal contraction where possible

  42. Q AND A SESSION • Panel • Eamonn Boylan (Chair) – Chief Executive, Stockport MBC • Baron Frankal - Director of Strategy, Commission for the New Economy • Alex Roy - Head of Economic Analysis, Commission for the New Economy

  43. NETWORKING……..

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