Agenda item

*RESOLVED

1.   That Cabinet recommend to Full Council approval of the Chesterfield Growth Strategy for the period 2023 through 2027.

2.   That authority be delegated to the Chief Executive, in consultation with the Council Leader and Cabinet Member for Economic Growth, to make any changes to the Chesterfield Growth Strategy for the period 2023 through 2027.

REASON FOR DECISIONS

To secure the adoption of the Chesterfield Growth Strategy 2023-27.

The Senior Economic Development Officer presented a report seeking Cabinet approval to recommend the Chesterfield Growth Strategy, for the period 2023 through 2027, to Full Council for adoption and publication.

The overall aim of the Growth Strategy, (as detailed in Appendix 1 of the officer’s report), was to provide a framework for action in support of the Council Plan priorities of making Chesterfield a thriving borough and improving the quality of life for local people.

A detailed assessment of the current standing of Chesterfield’s economy had been completed to underpin the development of the new Growth Strategy, and this assessment was attached as Appendix 2 of the officer’s report.

The Growth Strategy identified both the challenges that needed to be addressed and the opportunities that were available to secure the town’s and the borough’s economic growth. 

The challenges included a sector bias towards lower-value, lower-skill and lower-wage employment, changing patterns of consumer and retailer behaviour impacting on the viability of town centres, and the legacy impact of industrial restructuring with high levels of deprivation in some of Chesterfield’s communities.

There were however, a range of opportunities on the immediate horizon including, significant place making investment in Chesterfield and Staveley town centres aimed at attracting more visitors and repeat footfall, delivery of the wider Chesterfield Railway Station masterplan to create a new residential  and vibrant gateway to the town, comprehensive regeneration plans for the Staveley Growth Corridor, and promotion of Chesterfield’s affordable quality of life offer to attract more entrepreneurs to the town and borough.

Three over-arching principles would guide the delivery of the new Growth Strategy;

·        Higher-value Growth

·        Inclusive Growth

·        Environmentally Sustainable Growth

There were also five interlinked objectives;

·        To help businesses to grow and secure new business investment in the borough

·        To build a competitive place infrastructure that accelerated employment and housing growth

·        To strengthen the distinctive character and vibrancy of the town centres

·        To develop Chesterfield’s role as a visitor destination and a base for exploring the surrounding area

·        To ensure local people have the right skills to support progression in the labour market and benefit from future employment opportunities

The Growth Strategy also included a number of headline targets to be achieved by 2030;

·        Increasing the number of jobs by 4% (2,000 additional jobs)

·        Increasing the number of businesses by 12% (400 additional businesses)

·        Increasing the number of higher-value businesses by 15% (100 additional businesses)

·        Reducing the town centre vacancy rate to below 10% (the rate currently stands at 13.2%)

·        Maintaining the 16-64 claimant count unemployment rate below the national average (the Chesterfield rate currently stands at 3.2% compared to 3.6% nationally)

*RESOLVED

1.   That Cabinet recommend to Full Council approval of the Chesterfield Growth Strategy for the period 2023 through 2027.

2.   That authority be delegated to the Chief Executive, in consultation with the Council Leader and Cabinet Member for Economic Growth, to make any changes to the Chesterfield Growth Strategy for the period 2023 through 2027.

REASON FOR DECISIONS

To secure the adoption of the Chesterfield Growth Strategy 2023-27.