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Issue - meetings

ECONOMIC DEVELOPMENT STRATEGY

 

 

Meeting: 23/09/2025 - Cabinet (Item 30)

30 NORTH HERTS ECONOMIC DEVELOPMENT STRATEGY 2025-2030 pdf icon PDF 472 KB

REPORT OF THE DIRECTOR – ENTERPRISE

 

The purpose of this report is to present and seek approval of the new Economic Development strategy for North Herts for 2025-2030.

Additional documents:

Decision:

RESOLVED: That Cabinet approved the adoption of the Economic Development Strategy (2025-2030).

 

REASONS FOR DECISION:

 

(1)         The previous Economic Development Strategy was written and published in September 2015, based on historic evidence and not been updated since. The economic landscape of both the political environment, district and wider UK has changed dramatically due to several varying factors, resulting in the strategy becoming outdated.

 

(2)         Therefore, to respond to these fundamental changes and environment, the team were tasked with analysing the district according to economic development and writing a new strategy that is aligned to the most recent Council priorities, and its long-term vision to benefit both businesses and the people who visit, work and live in the district.

Minutes:

Audio recording – 27 minutes 51 seconds

 

Councillor Tamsin Thomas, as Executive Member for Enterprise, presented the report entitled ‘North Herts Economic Development Strategy 2025-2030’ and advised that:

 

·             An updated Economic Strategy supported by a fresh evidence base and consultation from Members, businesses and partners had been developed to replace the previous strategy.

·             Tapping potential in the business community would be vital for the future growth of the district.

·             The strategy set out how they would provide support to residents and unlock opportunities for them to provide greater economic resilience to the district. 

·             North Herts benefited from its location near towns such as Luton and Stevenage but also from its good links with cities like Cambridge and London.

·             The district had a Gross Value Added (GVA) of £4.3 billion, working population of approximately 83,000, and over 6,000 enterprises operated within it.

·             The strategy was built on two themes which were looking in to strengthen the local economy and building out to strengthen connections with nearby towns and cities with major growth which North Herts could support and capture.

·             Five action areas had been identified from these themes and would inform a detailed Action Plan and Resourcing Model if the strategy was approved.

·             The strategy underlined the Council priority of responsible growth and would help businesses to thrive, which would create opportunities for residents and enhance town centres and green spaces.

·             A proposal to provision more resourcing towards the strategy was being worked on with consultants from SQW Limited.

·             The Resourcing Model and Action Plan would be brought to Cabinet at a later stage once finalised.

 

In response to a question from Councillor Ian Albert, Councillor Tamsin Thomas advised that:

 

·             Delays to the strategy were due to resourcing issues and the need to align it with the Economic Strategy of Hertfordshire County Council which had been altered since the change in Government administration.

·             A workshop had been held with Shadow Executive Members and Senior Officers to scrutinise the strategy and its evidence base.

 

Councillor Tamsin Thomas proposed and Councillor Ian Albert seconded and, following a vote, it was:

 

RESOLVED: That Cabinet approved the adoption of the Economic Development Strategy (2025-2030).

 

REASONS FOR DECISION:

 

(1)         The previous Economic Development Strategy was written and published in September 2015, based on historic evidence and not been updated since. The economic landscape of both the political environment, district and wider UK has changed dramatically due to several varying factors, resulting in the strategy becoming outdated.

 

(2)         Therefore, to respond to these fundamental changes and environment, the team were tasked with analysing the district according to economic development and writing a new strategy that is aligned to the most recent Council priorities, and its long-term vision to benefit both businesses and the people who visit, work and live in the district.