Page 264 - Minutes of meeting

Appendix A - Draft Strategic Framework

Table 1.1 Strategic Objectives – Draft Final
10 Strategic Objectives 10 Features of the Socio-Economic Likely Output Categories
1
Narrative
To build on our strengths to help Barrow become a centre Clusters of activity as shown by employment, • Improved productivity of key sectors (GVA
of excellence and innovation for advanced manufacturing businesses and GVA. Manufacturing accounts for per FTE)
and clean growth 30% of employment and has an LQ of 3.82. Energy • New jobs created in key sectors (FTE)
production accounts for approximately 1% of • Jobs safeguarded in key sectors (FTE)
employment with an LQ of 1.76. • No. of SMEs who are innovation active (i.e.
cooperating with research establishments,
developing new to market / new to firm
products)
• Renewable Energy production (MW)
• No. of workers gaining NVQ L4+
qualifications
To create a resilient local economy through greater There are five large employers’ accounting for 12,100 • New jobs created (FTE)
diversification, enhanced competitiveness and providing a employees in the town (43% of all BTD jobs). The • Jobs safeguarded (FTE)
wider range of quality employment opportunities foundational economy in Barrow is a major employer • No. of SMEs assisted to grow (i.e. with 12
but the productivity gap between the town and the hours or more of support)
national average is pronounced. Self-employment • No. of new businesses started
levels are half that of the national average and • Affordable workspace created or
business birth rates are over a third below the national safeguarded
average.
To grow the working age population by creating an Barrow is depopulating (-1% since 2013) and is • Employment increase in key sectors
attractive and vibrant place to live, work and visit forecast to continue to decline driven by falls in • No. of visitors per annum
younger and working age cohorts. There is a net out- • Increased footfall and spend (£)
flow of those aged below 24 from the town. • No. of new residential units
• No. of new residential units delivered on
previously developed/brownfield sites
• No. of residential units refurbished
• Amount of commercial space created,
improved or brought back into use (m2)
• Employment land (ha) to come forward
To equip people with the skills and confidence to achieve There is a 16-percentage point gap between the • No. of learners progressing to Further
their potential to take full advantage of opportunities occupations of BTD residents and the Barrow Education
workforce, indicating that higher level talent is having • No. of learners progressing to Higher
to be imported into the area. Education

1 These output categories will need to align with MHCLG guidance when it comes available.

Private and confidential
2