Issue - meetings

Executive Summary

‘Investing in Our Local Economy & Infrastructure’ is an important strand of NNDC’s Corporate Plan. The draft Economic Strategy and Action Plan (2023-2027) sets out the approach and actions the Council will undertake to support delivering against this objective and supporting the growth of the local economy over the next four years.

Options considered

There are no options for consideration. The Strategy is recognised as a Key Action for delivery in 2023/24 within the Corporate Plan.

Consultation(s)

The Strategy has been informed by a range of sources and consultations. This has included engagements with businesses, workshops undertaken with the North Norfolk Local Partnership Group (which discussed local challenges and helped inform the focus of the UK Shared Prosperity & Rural England Prosperity Funds), a workshop in October 2023 with Council Members/Officers to discuss local economic challenges, and a presentation to the Corporate Leadership Team. Moreover, the findings of the Strategy and some of the key delivery actions were further shared and ‘tested’ at a business engagement event in January, which also served as a workshop to discuss key issues that would inform the forthcoming Norfolk-wide Economic Strategy that is presently being developed by Norfolk County Council. Furthermore, the Strategy was given ‘pre-scrutiny’ at the Overview & Scrutiny Committee meeting on 14 February 2024 and the advice from this, including a request for a supplementary ‘executive summary’ version of the Strategy, has been noted and will be produced in due course.

Recommendations

It is recommended that:

Cabinet endorse the Economic Strategy & Action Plan and recommend to Full Council its formal adoption.

Reasons for recommendations

Adoption by the Council will serve to illustrate the importance and value that NNDC places on its role in helping to create a vibrant, healthy and sustainable local economy. 

Background papers

2023 – 2027 Corporate Plan

Supporting documents available

Wards affected

All

Cabinet member(s)

Portfolio Holder for Sustainable Growth

Contact Officer

Stuart Quick, Economic Growth Manager, stuart.quick@north-norfolk.gov.uk

Links to key documents:

Corporate Plan:          

Investing in Our Local Economy & Infrastructure

Medium Term Financial Strategy (MTFS)                                

The contents of this report do not directly impact upon the MTFS. Activities within the Strategy are predominantly funded through external funding, leveraged match funding from partners and normal business.

Council Policies & Strategies

N/A

Corporate Governance:

Is this a key decision 

No

Has the public interest test been applied

Not an exempt item

Details of any previous decision(s) on this matter

N/A