Agenda item

[To consider a briefing note on the draft Strategic Economic Plan]. 

The Head of Local Economy gave a presentation on the draft Strategic Economic Plan.  A copy of the presentation slides are attached to the signed minutes. 

The Head of Local Economy stated the Strategic Economic Plan (SEP) was essentially a refresh of the City Strategy which had been set out in 2011, with three priorities.  These were encouraging enterprise, empowering people and reinvigorating the City.  The strategy also set out four key performance areas.  The main purpose for refreshing the SEP was to capture the progression since 2011. Since this time there had been different shifts in sub-regional, regional and national economic policy.  There had also been a great deal of work in improving the City economy since 2011.

The Head of Local Economy stated there had been a slight upward trend in recent figures of the number of jobs per head of population.  The figures did not however reflect jobs outside of the Council’s geographical boundary.  The figures did therefore not include the jobs created as part of the i54 site, which were a key part of the local economy.  The second performance indicator was regarding employment rate, which showed an ongoing upward trend.  The third indicator related to health and well-being, with particular emphasis on life expectancy.  There had been a downward projection in female life expectancy, but females were outliving males within the City.  There were significant differences in Ward level data.  The Cabinet Member stated the life expectancy figures were reflective of the nationwide figures.  The Head of Local Economy referred to the fourth and final performance indicator of child poverty.  The target was very low.  Whilst it had reduced since 2011 there had been a slight upward trend.  This was thought to be largely down to the national policy changes such as in benefits.

The Head of Local Economy said the Council were developing an open data platform called WV Insight.  WV Insight would be a platform for hosting key data for the City.  It was proposed to include the SEP evidence base as a key part of the platform.  It was intended to be launched in the Summer.  The platform would include data from key partners such as the University and local businesses.  Some aspects of WV Insight would be open to the public and others restricted.

The Service Director for City Economy praised the work that had been completed on Workbox, Crowd Fund Wolves and on the Smart City Agenda.  There had been a surge in new companies since 2016.  Business survival rate had also improved, with one statistic showing Wolverhampton as the fourth best place to start a business.  There was an increase and improvement in skill levels within the City.   Superfast Broadband was continuing to be developed with the City.  Developers were being invited into the City to create places which people wanted to live. 

The Head of Local Economy stated they were now at the stage of consulting with key partners of the SEP to help build the content of the plan.  She welcomed the Chair’s suggestion that the SEP be discussed at the Annual Scrutiny Work Programme Event.  There would be a twelve week formal consultation period from June to September before going through the Council’s internal governance processes.  A Member of the Panel said he was pleased about the launching of WV Insight as Councillors could be more effective if they had accurate and up to date information to work with. 

The Panel paid tribute to the work of Service Director for City Economy, Keren Jones who was leaving the Council after eight years of service. 

Resolved:

A)   That the Strategic Economic Plan presentation slides be circulated to Members of the current Panel and any new members appointed at Annual Council. 

B)   That the Strategic Economic Plan be discussed at the Annual Scrutiny Work Programme Event 

The meeting closed at 7:45pm.